MSC, Nigerdock Sign 45-year Deal For Terminal Construction At Lagos Port

The Mediterranean Shipping Company (MSC) has signed a 45-year sub-concession agreement with Nigerdock to develop, operate, and maintain an exclusive container terminal within Snake Island Port (SIP) in Lagos.

The new container terminal is expected to be completed by 202,8featuringh a 910-meter quay, six Ship-to-Shore (STS) cranes, two ship berths, three barge berths, and a draft of up to 18 meters.

Commenting on the alliance, Nigerdock CEO, Maher Jarmakani, said the partnership with MSC will bring significant foreign direct investment into the country.

According to him, that will accelerate growth in the maritime and logistics industry.

“We are thrilled to take this step forward in our partnership with MSC to develop a world-class container terminal within Snake Island Port. This gives the world’s leading shipping line a home in Nigeria and brings significant foreign direct investment into the country to accelerate growth in the maritime and logistics industry.”

On his part, the President of MSC, Diego Aponte said the new terminal will open up opportunities, enhance efficiency, and elevate Snake Island Port as a major global shipping centre.

“Completing this key phase in the development of Snake Island Container Terminal with Nigerdock and our trusted partners demonstrates MSC Group’s commitment to providing excellent service to our customers in Nigeria and throughout Africa.

“The new terminal will open up opportunities, enhance efficiency, and elevate Snake Island Port as a major global shipping centre. Together with our Group’s other long-term investments in Nigeria, it will generate many local jobs and significantly increase economic revenue and resilience.”

It could be recalled that Snake Island Port is an 85-hectare port facility operated by Nigerdock. It is comprised of three terminals which have significantly boosted Lagos Port’s capacity and existing operations.