FG Grants Approval For $2.9bn Escravos Seaport

The Federal Government has granted approval for the
establishment of the Escravos Seaport Industrial Complex, ESIC, to
Mercury Marine Concession Company, MMCC.

The proposed $2.9 billion project is majorly designed to boost
economic/national development of Nigeria particularly, Delta
State.

Chairman, Chief Executive of the firm, Rear-Admiral Andrew
Okoji, who confirmed the approval, weekend, said the Federal
Ministry of Transport has directed the firm to pay N1 billion,
apparently to express its interest.

He said: ‘‘It is going to be a lease for about 50 years, the
investment for the port is coming from abroad.

“We have gotten provisional approval from the Federal Government
through the Federal Ministry of Transportation, as they have told
us to lodge in $1 billion as evidence of capacity to fund the
construction of the port and, to lodge in your money, there are
certain protocols that must be met. We are currently carrying out
these protocols.

“The Nigerian Ports Authority, NPA, is going to be part of the
project. I think they are getting some percentage as regards to the
equity. I think about per cent, just for monitoring purposes.

“I will tell you, you have been talking about Lekki Deep Seaport
for the past 20 years, but I am telling you that within the next
five years we will complete the construction of the port.’’

A transport consultant, Professor Charles Asenime, said that the
proposed $2.9 billion seaport project which includes a deep
seaport, free trade zone, crude oil refinery, and gas complex,
would boost economic development.

Other components of the project include industrial layouts, an
independent power plant, a nature conservation park, an
international airport, and the development of prime infrastructure,
new towns, and cities.

The Federal Government has granted approval for the
establishment of the Escravos Seaport Industrial Complex, ESIC, to
Mercury Marine Concession Company, MMCC.

The proposed $2.9 billion project is majorly designed to boost
economic/national development of Nigeria particularly, Delta
State.

Chairman, Chief Executive of the firm, Rear-Admiral Andrew
Okoji, who confirmed the approval, weekend, said the Federal
Ministry of Transport has directed the firm to pay N1 billion,
apparently to express its interest.

He said: ‘‘It is going to be a lease for about 50 years, the
investment for the port is coming from abroad.

“We have gotten provisional approval from the Federal Government
through the Federal Ministry of Transportation, as they have told
us to lodge in $1 billion as evidence of capacity to fund the
construction of the port and, to lodge in your money, there are
certain protocols that must be met. We are currently carrying out
these protocols.

“The Nigerian Ports Authority, NPA, is going to be part of the
project. I think they are getting some percentage as regards to the
equity. I think about per cent, just for monitoring purposes.

“I will tell you, you have been talking about Lekki Deep Seaport
for the past 20 years, but I am telling you that within the next
five years we will complete the construction of the port.’’

A transport consultant, Professor Charles Asenime, said that the
proposed $2.9 billion seaport project which includes a deep
seaport, free trade zone, crude oil refinery, and gas complex,
would boost economic development.

Other components of the project include industrial layouts, an
independent power plant, a nature conservation park, an
international airport, and the development of prime infrastructure,
new towns, and cities.