ICTSI Pulls Plug on Lekki Port Project in Nigeria

Image Courtesy: LekkiPort

Manila-based container terminal operator International Container Terminal Services, Inc. (ICTSI) has terminated an agreement to develop and operate a container terminal within Lekki Port, Nigeria.

ICTSI’s subsidiary, Lekki International Container Terminal Services LFTZ Enterprise (LICTSE), and Lekki Port LFTZ Enterprise (LPLE) agreed to terminate the sub-concession agreement signed in 2012, citing delays in the execution of the project as the main reason.

The terminated sub-concession agreement had granted LICTSE an exclusive right to develop and operate, and to provide handling equipment and container terminal services, at the container terminal within the port located at Ibeju Lekki, Lagos State, for a period of 21 years.

The termination of the sub-concession agreement was deemed effective as of Wednesday, May 24.

The project, initially slated for completion in 2016, called for the development of a container terminal with a 2.5 million TEU capacity capable of handling 10,000 TEU container ships. The terminal was to feature a 1,200-meter quay with 14 Post-Panamax cranes, making it one of the largest single terminals in Sub-Saharan Africa.

Share this article

Follow World Maritime News

In Depth>


<< Mar 2018 >>
26 27 28 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

Singapore Maritime Technology Conference and Exhibition (SMTC) 2018

The 3rd Singapore Maritime Technology Conference and Exhibition (SMTC) 2018 is organized by the Maritime and Port Authority of Singapore…

read more >

Shippax Ferry Conference 2018

The two-day onboard ferry conference was first organized in 2003 and grows ever more popular with some 400 delegates from over 40 ferry…

read more >

8th Dredging & Land Reclamation World Summit 2018

The 8th Dredging and Land Reclamation Summit 2018 will gather the decision makers from Authorities and Operators responsible for ports…

read more >

Shipping 360

This course is ideal for those who have recently joined the maritime sector and those who need to have a better understanding…

read more >