LekkiPort, a public-private partnership project between the Nigerian federal government, Lagos State Government and the Tolaram Group, has been given the go-ahead by the Nigerian Ports Authority for further investment.
The project is hoped will become a Nigerian gateway to the west African region, catering for containerised liquid and dry-bulk cargo.
Sandeep Parasramka, chief financial officer for Lekki Port said: “The stage we are in now is structuring the financial terms, which will take a short period before funding is made available to Lekki port.
“Apart from getting the concession from NPA to build Lekki Port, Tolaram has put together leading global consultants such as Standard Chartered Bank, the Louis Berger Group, Delta Marine Consultants, BMT Asia Pacific, TBA Netherlands, Jardine Lloyd Thompson and GMaps, following which the EPC contractor, China Harbour Engineering Co has been appointed to build the port.”
The total cost of Lekki Port is expected to be around US$1.5 billion.