APM Terminals (APMT) has announced that it will be investing more than US$2 billion dollars in a new port in Nigeria, which will be the second largest port in Africa after Port Said and will be the biggest single investment made by the terminal operator, according to the Copenhagen Post.
APMT recently acted on its decision to invest $1.5 billion on the Port of Tema in Ghana, Africa, with the establishment of a Greenfield port outside of the existing facility and upgrades to the adjacent road network.
David Skov, the Managing Director for APMT in Nigeria, said: “We are currently purchasing property from the state and will start construction later this year. The port is scheduled to be completed in 2019.
“Globally, it will be APM Terminal’s largest ever investment and marks a strategic shift to multi ports. It means we will supplement our own experience in container ports with the establishment of a free zone, an oil port and a bulk port, so in other words a complete port.”
Fact File: APMT has a global terminal network of 20,600 professionals and 200 port and inland services operations in 58 countries around the globe. APMT designs, builds and operates port and terminal facilities, as well as providing inland cargo services for cargo transportation between port facilities and inland locations, as well as other associated cargo handling functions.