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CMA buys 25% of Nigerian box terminal from ICTSI

CMA buys 25% of Nigerian box terminal from ICTSI
CMA GGM arm CMA Terminals is buying a 25% stake in greenfield terminal in Nigeria from International Container Terminal  Services Inc (ICTSI).  

CMA Terminals has signed an agreement to buy 25% of Nigerian container terminal Lekki International from ICTSI at an undisclosed price. Lekki International Container Terminal Services LFTZ Enterprise (LICTSLE), slated to become fully operational in 2017, is expected to ease current congestion at Nigerian ports, performing transhipment operations to West Africa and potentially providing major improvements to economic growth in the region.

The facility’s initial capacity will be 2.5m teu, with a straight-line quay of 1200m and a yard area of 66 hectares, and room for further capacity growth as demand increases. The port will also make use of 14 post-Panamax cranes.

The move follows a spate of investments in the African economy, after ICTSI inked a similar agreement in the Democratic Republic of Congo, and HPL announced expansion of its West Africa liner services beginning February. Meanwhile on the other side of the continent, CMA CGM has announced a new feeder service dubbed “Rhino Express”

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