Lekki Tolaram port project, Nigeria
Name and Location
Lekki Tolaram port project, Lagos, Nigeria.
Client
Lekki Port LFTZ Enterprise.
Project Description
The project involves the construction of a greenfield seaport in the Lagos free trade zone, 60 km east of Lagos.
It comprises the construction of port infrastructure, including breakwaters, quays, approach channels and dredging of the basin, as well as captive utilities such as water and power. On completion, the port will handle 2.5-million twenty-foot equivalent units, 16.7-million tonnes of liquid cargo and 4.5-million tones of dry bulk.
Value
The project, estimated at $1.675-billion, will be financed through a 54:46 debt-to-equity ratio.
Duration
Construction is expected to start in January 2015, with the container terminal operations expected to start in December 2018.
Latest Developments
The African Development Bank (AfDB) has approved a $150-million senior loan to Lekki Port LFTZ Enterprise for the construction of the seaport.
Key Contracts and Suppliers
AfDB (loan finance).
On Budget and on Time?
Not stated.
Contact Details for Project Information
Lekki Port LFTZ Enterprise site office, tel +234 802 333 0444 or email lekkiport@lekkiport.com.
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