Posted on March 25, 2021
Commercial operations at a new greenfield port development in Nigeria will begin in the first quarter of 2023.
The 90-hectare Lekki Deep Sea Port in Lagos Free Zone is being constructed by China Harbour Engineering Company Ltd. Governor Babajide Sanwo-Olu was informed of the expected launch date by Du Ruogang, managing director of Lekki Port and representative of CHEC, now the major investor of the port project, said the Lagos State Government on its Facebook page.
“The first phase of the seaport project, which is being financed by $629 million facility from China Development Bank, is at 48% completion,” said the Lagos State Government.
Ability to handle large vessels
Mr Sanwo-Olu said the size of the deep seaport will allow 18,000 TEU capacity vessels, which are four times bigger than the ones berthing at Apapa ports, thereby scaling down the cost of container transportation from any part of the world.
Dinesh Rathi, chief executive officer of Lagos Free Zone, said that when completed, Lekki will serve as an alternative to the Federal Government-owned ports in Apapa, in an effort to decongest them.
Chairman of Lagos Free Zone Development Company, Biodun Dabiri, said that all statutory permits, licences and endorsement for the Lekki port project have been secured.
“There is strong guarantee that the port will be delivered before time, going by the inflow of capital investment and technical services,” Mr Dabiri said.
What companies are involved in the project?
Lekki Port LFTZ Enterprise Limited was awarded the Concession Agreement for development and operations of the Lekki Deep Sea Port by the Nigerian Ports Authority.
LPLEL is a joint venture enterprise owned by a group of investors led by the Lekki Port Investment Holdings Inc (comprising CHEC and Tolaram Group), the Lagos State Government and the Federal Government of Nigeria through the NPA.
Other project partners include WSP-owned Louis Berger – the project management consultant for the port, and CMA CGM subsidiary, CMA Terminals.
According to the NPA, the Lekki aims to handle 2.7m TEUs, 16.m MT liquid cargo and 4.0m MT dry bulk cargo annually.
