Construction of Africa’s largest deep sea port situated in the Badagry area of Lagos has officially started.The project is a joint venture between the Integrated Logistics Services (INTELS) and the Nigerian Port Authority (NPA).
The INTELS management said that the project is very much on schedule and once completed it will be Africa’s largest deep sea port.
The management also added that its plan is to invest in concessioned terminals in line with what is stated in the concession agreement between NPA and the Ministry of transport in line with the federal government strategy on infrastructure development.
The Badagry deep sea port project will cost US$ 2.6B and is expected to be a huge milestone that will go a long way to bring global growth to the Nigerian’s waters, the country’s economy and also complement the materialization of Lagos as the 5thlargest economy in the continent.
The project will also generate about 500,000 direct and indirect employment opportunities.
The Minister of Transportation, Rotimi Amaechi whilst briefing the joint senate and the House of Representatives committee on Land Transport in Abuja, announced that the Federal government had signed a memorandum of understanding with a China Railway Corporation.
He said that the memorandum will not only cover the Warri –Ajaokuta-Obura –Abuja central rail project but will also cover the construction and expansion of Warri port and harbor.
It will also cover the construction of deep sea port and construction of an Industrial park at Port Harcourt and Bony Island.
The Minister went on to reveal that the Government had also signed the contract for the construction of a rail line from Port Calabar to Port Harcourt with extension from Port Harcourt to Onne deep sea port.
The INTELS management says it is very excited to be part of such a big project and is looking forward to building more project given its 30 years of expertise in the sector.