The Ibom Deep Seaport (IDSP) is set to become the first transhipment hub in West and Central Africa.
In a press statement made available to LEADERSHIP yesterday by the promoters, the project is said to be in an enviable position to emerge as the first major transhipment hub for the region.
The Ibom Deep Seaport is strategically located in the South East of Akwa Ibom State, on a 2,565 hectares Greenfield port area which is designed for New Panamax Class vessels with channel (18.24m); turning basin and berth depth (16.72m) and quay length of about 7.5 km.
According to the statement, transhipment container market for the IDSP is estimated to grow from about 1.2 million TEUs in 2021 to about four million TEUs in 2040 and when the port is fully developed, the container terminals will be able to accommodate up to 13 New Panamax Class container vessels and two very large feeder vessels.
The statement reads, “due to its proximity to target markets in West and Central Africa, neighbouring hinterland countries and major shipping lines calling West/Central Africa, large gateway market size to attract direct vessel services and sizeable transhipment cargo hinterland for feeder shipping network connection, as well as its capacity to handle post and New Panamax vessels at its specialized terminals.
“The IDSP is in an enviable position to emerge as the first major transhipment hub for the region. The transhipment container market for the IDSP is estimated to grow from about 1.2 million TEUs in 2021 to about four million TEUs in 2040,” the statement read.
The seaport it was gathered was unarguably one of the most promising Public Private Partnership (PPP) infrastructure initiatives in Africa because of the unique and unparalleled investment opportunities it offers international seaport developers, operators and investors as well as its potential for driving inclusive economic growth in Nigeria and the West and Central African sub-region.
“The IDSP is positioned to offer a value proposition superior to other seaports in the region. Available data indicates that the various seaports currently serving the West and Central African sub-region are reaching saturation and the need for viable alternatives has become critical for major shipping lines sailing these routes.
“With limited land to expand the existing seaports in Lagos and the inhibiting conditions against the development or expansion of other ports in neighbouring countries, the Ibom Deep Seaport offers an ultra-modern deep seaport with modern cargo handling equipment, facilities and systems that can address the capacity challenges constraining other seaports across the region. The greenfield site has substantial land available for future expansion,” the promoters of IDSP said.
The statement further stated that the procurement process for the IDSP Project is scheduled to commence in January 2018 with advertisement of the Request for Qualification (RFQ) from reputable private sector port developer/operators for the development of the Deep Seaport would be done in partnership with the Akwa Ibom State government and the federal government of Nigeria.
It reads further, “With the prevailing gap in functional seaports in West Africa coupled with the demonstrated commitment of both the federal government and the Akwa Ibom State Government to create an enabling environment for private sector investors to exploit the opportunities in the industry, the Ibom Deep Seaport presents a compelling investment case that cannot be ignored by investors.”
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