Nigeria is set to
receive its first deep sea port in Lekki, Lagos State, after the country signed
agreements with China Development Bank.
Lagos State Governor, Mr. Babajide Sanwo-Olu witnessed the
signing of four agreements, including a USD 629 million financing facility that
would accelerate the completion of the Lekki deep sea port project which
started in 2011.
The government said the works on the project would be completed
in 30 months.
The loan was secured from the Chinese bank after China Harbour
Engineering Company (CHEC), which owns majority shares in the project, signed a
45-year concessionary agreement with Lekki Port LFTZ Enterprise Limited (LPLTZ)
to complete the first phase of the deep seaport project.
Once completed, the port would feature two 680-meter container
berths with a depth of 16.5 meters. As outlined, the port will be capable of
handling ships with a capacity of up to 18,000 TEU.
“The loan facility represents a
significant milestone, which when combined with foreign direct investment of
USD 230 million through equity injection by CHEC, will ensure a successful
delivery of the seaport and reposition Nigeria as the trans-shipment hub in
sub-Saharan Africa upon the conclusion of the second phase,” Biodun Dabiri,
Chairman of Lekki Port Board of Directors, said.
CHEC Chairman Lin Yichong said the first phase of the project
would be built with an annual handling capacity of 1.2 million TEU, adding that
the capacity would be increased to 2.5 million TEU upon the completion of the
second phase.
About the Blogger: Valuehandlers is a
professional Freight forwarder specializes in Air & Sea shipping, Customs
clearing and cargo delivery from and to Nigeria for Packages, Item, Equipment,
Machines, Raw materials, Dangerous goods, Personal effects, trucks and Cars,
etc. from more than eighty (80) countries.
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