PPP contract for Ibom Deep Seaport to be signed in April

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The Ibom Deep Seaport project in Nigeria is expected to reach commercial close by April 2019. The US$2.5 billion project will be developed through a public-private partnerships (PPP) investment scheme.

It involves the construction and operation of a 2,565-hectare greenfield port area located in the south-east of Akwa Ibom State. The port is designed to berth New Panamax Class vessels with channel depth (18.24m); turning basin and berth depth (16.72m); and quay length of about 7.5 km upon completion. It will handle containers, petroleum products (export and import), crude oil and natural gas (export), vehicles (import) and bulk trade in natural resources (import and export).

A consortium of PowerChina Ltd and Bolloré Transport & Logistics was named the preferred bidder for the project in the last quarter of 2018. The consortium will commence construction following the contract signing. Operations are scheduled to commence in 2021.

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