Contractors Begin $1.6bn Lekki Port Works


Contractors have begun US$1.6 billion worth of construction work on Lekki Port, situated within the Lagos Free Trade Zone in the Ibeju-Lekki area of Lagos State in sub-saharan Africa, which is due to be operational in 2019, and marks the beginning of a 41-month construction for the largest maritime project in Africa, according to Leadership Business.

In a previous news article published by PTI, it was reported that a consortium of banks had raised the $1.6 billion needed to fund the project.

Haresh Aswani, Managing Director of Lekki Port previously said that the port could potentially be a game-changer due to its multiplier effect on the African economy.

Aswani said: “Once ready, the port facility, with its state-of-the-art infrastructure, would be able to handle post-Panamax container vessels of up to 10,000 TEU capacity.

“The port will commence its operations with an annual throughput capacity of 1.5 million TEU and shall quickly ramp it up to 2.7 million TEU. In addition, when completed.

Lekki Port was announced as part of the Nigerian federal government’s wider plan to develop six new deep sea ports in the south-west and south-south areas of Africa, to be carried out via public-private-partnerships.

Aswani concluded: “We, especially, acknowledge the unflinching support extended by [Lagos State] Governor Babatunde Raji Fashola through his promise to expand the connecting road infrastructure between port site and hinterland for smooth operations.”

(Source: Biz Watch Nigeria)

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