World’s largest shipping line signs 45 years concession agreement with Nigerdock to boost FDI
The world’s largest shipping line, Mediterranean Shipping Company (MSC), has signed a 45-year sub-concession agreement with Nigerdock to develop, operate, and maintain an exclusive container terminal spanning 30 hectares within
The world’s largest shipping line, Mediterranean Shipping Company (MSC), has signed a 45-year sub-concession agreement with Nigerdock to develop, operate, and maintain an exclusive container terminal spanning 30 hectares within Snake Island Port (SIP), Lagos, The Nation has learnt.
The new container terminal, its promoters said, would bring significant foreign direct investment into the country, and it would be completed by the year 2028.
The the game-changing agreement, according to the Chief Executive Officer of Nigerdock, Maher Jarmakani, would be completed with 910-meter quay wall at the terminal, six Ship-to-Shore (STS) cranes, two ship berths, three barge berths, and up to 18 meters of draft.
He said, "We are thrilled to take this step forward in our partnership with MSC to develop a world-class container terminal within Snake Island Port. This gives the world’s leading shipping line a home in Nigeria and brings significant foreign direct investment into the country to accelerate growth in the maritime and logistics industry.”
The MSC President, Diego Aponte said they were ready to provide excellent service to their customers in Nigeria and throughout Africa
His words: "Completing this key phase in the development of Snake Island Container Terminal with Nigerdock and our trusted partners demonstrates MSC Group’s commitment to providing excellent service to our customers in Nigeria and throughout Africa."
The new terminal, he said, "will open up opportunities, enhance efficiency, and elevate Snake Island Port as a major global shipping center. Together with our Group’s other long-term investments in Nigeria, it will generate many local jobs and significantly increase economic revenue and resilience."
Snake Island Port is an 85-hectare port facility operated by Nigerdock. It is comprised of three terminals which have significantly boosted Lagos Port’s capacity and existing operations.
Nigerdock is a Nigerian maritime and logistics company operating an integrated port and free zone in Lagos, facilitating global trade with the African market.
The MSC Mediterranean Shipping Company has its headquartered in Geneva, Switzerland. It is a global leader in transportation and logistics, privately owned and founded in 1970 by Gianluigi Aponte.
As one of the world’s leading container shipping lines, MSC has 675 offices across 155 countries worldwide and operates 1,000 vessels.
Since 1971, MSC has been helping its customers move goods to and from Africa. With an African network of local offices in over 45 countries, a global port presence and integrated road and rail solutions.
The MSC Group of companies have become the preferred partners in the supply chain for the continent's importers and exporters.
