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The Federal Government of Nigeria (represented by the Ministry of Transportation/Nigerian Ports Authority) and the Akwa Ibom state government have issued a Request for Qualifications (RFQ) for the development of the Ibom Deep Seaport (IDSP) via a public-private partnership arrangement on a design-build-finance-maintain-operate-transfer (DBFMOT) basis.
The IDSP will be located in the south-east of Akwa Ibom state, a leading oil and gas producing state in Nigeria. It will be developed in phases. The first phase will comprise:
The phase two component of the project will occupy an additional 495Ha. The design has provided an additional 1,565Ha of land area for future expansion of the port, in view of projected growth in cargo volumes.
The port is designed for New Panamax Class vessels with channel (18.24m); turning basin and berth depth (16.72m) and quay length of about 7.5 km. When fully developed, the container terminals will be able to accommodate up to thirteen New Panamax Class container vessels and two very large feeder vessels.
The IDSP will be the key maritime gateway for Nigeria, West and Central African region and hinterland countries. Available data indicates that the various seaports currently serving the region are reaching saturation and the need for viable alternatives has become critical for major shipping lines sailing these routes.
With limited land to expand the existing seaports in Lagos and the inhibiting conditions against the development or expansion of other ports in neighbouring countries, the Ibom Deep Seaport will provide an ultra-modern deep seaport with modern cargo handling equipment, facilities and systems that can address the capacity challenges constraining other seaports across the region.
Furthermore, the IDSP will be located within the Ibom Industrial City - a designated Free Trade Zone replete with fiscal incentives, including tax waivers and ease of repatriation of capital/investment proceeds. A vast array of businesses are to be situated within the Industrial City, representing the agriculture, oil and gas and petrochemicals sectors, marine-related industries, auto assembly plants, power plants and real estate developments.
The IDSP has been in planning since September 2012. As reported on this platform, it was formally approved by the Federal Executive Council in May 2015.
Reputable private sector port developers or operators are invited to submit qualifications until 16 February 2018. For more information on the RFQ, please see the Business Opportunity. The successful bidder will be awarded a 50-year concession for the development and operation of the port.
Upon completion of the procurement process, the investor will enter into a joint venture arrangement with the sponsors through a special purpose project development and management company (PDMC). The proposed shareholding structure of the PDMC is 60% (private sector investor); 20% (federal government of Nigeria); and 20% (Akwa Ibom state government).