MoU for Tolaram Port in Lekki Nigeria

In April last year (2011), the Nigerian Ports Authority (NPA) and LPLE signed the master concession; ICTSI has now been selected as the preferred bidder for a sub-concession to equip and operate the container terminal on an exclusive basis for a 20 year period.

Scheduled for completion by 2016, the terminal will have a handling capacity of 2.5m teu with a quay length of 1,200 metres, an initial draught of 14 m with potential for further dredging to a depth of 16.5 m. This will allow the facility to accommodate larger vessels with a view that it will become the preferred destination and transhipment port for the West African region.

The Tolaram Port@Lekki public-private partnership (PPP) project, the largest of its kind in Sub-Saharan Africa, will comprise dedicated terminals for containers, dry bulk and liquid cargoes. It is expected that LPLE will be responsible for design and civil works with a projected investment of more than US$1bn, supported by the Tolaram Group of Singapore.