By Muyiwa Lucas
Lagos Port concessionaire, APM Terminals Apapa is investing N65 billion in its expansion and new equipment.
This fresh investment is an addition to the N130billion it earlier invested in infrastructure, Information Technology upgrades and modern container handling equipment to improve quayside and landside operations.
The new investment, APMT said, is aimed at positioning the firm to cope with the significant growth at the Lagos Port.
The Managing Director of APM Terminals Apapa, Mr. Martin Jacob said: “Due to the conducive economic environment coupled with the closure of the border with Benin Republic, Lagos ports witnessed a spike in volume as cargo was diverted from Cotonou, with periods, such as October witnessing up to 50 percent year-on-year growth of imports.
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“APM Terminals Apapa has expedited the investment in additional equipment, with the first batch of three cranes already in operation after arriving within the last month.
“A further five cranes are scheduled to arrive within the next few weeks to not only handle the ocean-going vessels, but also inject the much-needed capacity for barging.
Jacob said the firm is committed to delivering the NPA’s vision of enhancing the country’s maritime sector.
The Nigerian Ports Authority (NPA) had issued a 30-day ultimatum to the terminal operator to address some alleged lapses, which have reportedly resulted in port congestion.
The ultimatum, which was reportedly given to the company last month, would expire this week.
In 2006, APM Terminals Apapa was awarded the concession to manage the Apapa container terminal at the Lagos Port Complex, after the Federal Government concessioned ports.
The 55-hectare facility has 1,005m quay length, 13.5m draft alongside with an annual handling capacity of 1.2million TEU.
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