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Bakassi Deep Sea Port Project
14 Jun 2018

 

Industry

Port infrastructure;

The project was initiated by The Federal Ministry of Transportation and Cross River State Government.

 

The project development is supervised and supported by the Honourable Minister of Transport and the Ministerial Project Development and Steering Committee on Bakassi, consisting of members from the Ministry of Transport, Cross River State, the Nigerian Ports Authority(NPA) and the Infrastructure Concession Regulatory Commission(ICRC).

 

The project development is supported by the interim transaction advisors, the Infrastructure Bank, China Harbour . The official project transaction adviser shall be appointed by end June 2016 following open tenders by the Inter-Ministerial Project Steering Committee. The Committee shall comprise representation from NPA, ICRC & the Federal Ministry of Finance.

 

General situation

Description:

The project is to provide a convenient, safe and cost-effective sea port and free trade zone as a catalyst for diversifying the national and regional economy. The project aims to be a world-class sea port of choice providing value added offerings including economic linkages in the Gulf of Guinea.

 

The shares are divided between the Federal government with NPA as the representative, Cross River State government and private sector(company/consortium),where the majority of the shares will be privately owned.

 

Timing:

Payback period: 8 years

 

Impact:

The object is to become the Eastern maritime gateway of Nigeria and serve national and regional economies and facilitate the adjacent Free Trade Zone and Bakassi Industrial City.

 

Total project investment

From 1,449M USD to 1,874M USD

 

Contact:
Cooperation & Development Department,SRCIC


Email: cooperation@srcic.com