China Development Bank provides $629m in financing for Nigeria’s Lekki port project

China Development Bank is to provide $629m to finance China Harbour Engineering Company for the construction and operation of Lekki deep sea port, the first deepsea port in Nigeria.

Upon the completion of the project, Lekki deepsea port, will become one of the deepest draught ports not only in Nigeria but also in Africa, which could accommodate larger vessels and making Nigeria to be the trans-shipment hub in the region, said Biodun Dabiri, chairman of Lekki Port Board of Director.

Lekki Port is a multi-purpose, deepsea port at the heart of the Lagos Free Trade Zone, which will be one of the most modern ports in West Africa, offering enormous support to the burgeoning commercial operation across Nigeria and the entire West African region.

Lekki Port will have a total of three container berths, one dry bulk berth and three liquid berths when the project completed.

China Harbour Engineering Company Limited, the marine engineering and construction arm of China Construction and Communication Company, is in charge of the design and construction of marine infrastructure and land infrastructure for the container terminal and utilities in Lekki port.

As the end of June this year, China Development Bank has provided investment and financing for nearly 500 projects in 43 African countries to develop energy, infrastructure, mining, telecom and general livelihood.

 

Posted 24 October 2019

© Copyright 2019 Seatrade Informa Markets. Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade Informa Markets.

Saudi Maritime Congress 2020Saudi Maritime Congress

22 – 23 March 2020 | Dammam, KSA

Connecting Saudi shipping and logistics industry.

Find out more >

Related Topics

Katherine Si

Author Bio ▼

China Correspondent With extensive experiences in writing, research and social media promotion, China-based Katherine focuses on shipping and transport sectors. She had worked for maritime industry since 2008 and had been well connected with local industry players.

Sign up to get the latest Maritime News headlines emailed directly to your inbox

SUBSCRIBE