Consortium Raise $1.5bn Lekki Port Funds

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A consortium of six banks have agreed to fund Lekki Port, Nigeria with around US$1.5bn in order to develop container trade and connect Western Africa with the rest of the continent.

PTI previously reported that Lekki Port will take around 47 months to complete and is anticipated to be fully operational by 2018.

As reported by the African Business Review, Haresh Aswani, Managing Director of Lekki Port said that the port was a game changer due to its multiplier effect on the economy.

The Lekki Port project is a public-private partnership between the Nigerian federal government, Lagos State Government and the Tolaram Group and hopes to develop dry-bulk cargo trade at the facility.

Port company Transnet recently announced the opening of berths three and four at its Ngqura Container Terminal (NCT) in South Africa in a bid to expand container-handling capacity.

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