In November 2012, APM Terminals announced plans to construct mega port and free trade zone in Badagry. The project was, however, delayed due to lack of approval. However, last week, APM Terminals and other five firms were given the approval to construct the deep seaport. Other firms involved in the project are Orlean Invest, Macquarie Group, Oando Plc, Chagoury Group and Terminal Investment Limited.
APM Terminals, which is leading the firms, operates a global terminal network of 72 operating ports, terminal facilities and 140 inland services operations. It also provides independent crane engineering services to the global port industry, with presence in 69 countries on five continents.
Feasibility studies Already, all the feasibility studies of the port have been concluded by the Nigerian Ports Authority (NPA), while the concession agreement had been signed by the government .
Minister for Information, Lai Mohammed, said in Abuja last week that the project would be built by the private sector. He explained that the approval for the Greenfield port development in Badagry was the first step to approving the establishment of a new seaport in the country, noting that Nigeria was a preferred investment destination in Africa despite the challenges it was facing…Read more