The Federal Executive Council (FEC) has approved the official take-off of Ibom Deep Seaport project.
The approval was made yesterday during the 28th Federal Executive Council (FEC) meeting at the Council Chamber of the State House, presided over by Vice President Yemi Osinbajo, while President Buhari joined virtually from Daura.
Recall that Bolloré Ports and PowerChina International Group Ltd, formed by the consortium in November 8 , 2018, won an international tender to build and operate the future deep-sea port at Akwa Ibom in Nigeria.
Their main task is to to develop and operate the port over a period of 50 years, alongside the Nigeria Ports Authority, the Federal Government of Nigeria and the Akwa Ibom State government.
The Ibom Deep Sea Port (IDSP) will develop the country’s existing port capacity and open a new shipping gateway with direct access to Nigeria’s East and North-Eastern regions.
The project funding will be shared with both the Federal Government of Nigeria and the Akwa Ibom State.
Works will include dredging a channel over 20 km long and 18 metres deep, erecting a breakwater of 1,100 metres and building over 2,500 metres of quay and the dedicated handling equipment for all types of activity: containers, general cargo and bulk. With a draught of 16 metres, the new port will be able to receive large-capacity vessels (Post Panamax and New Panamax) and handle over 2.24 million TEU/year in the long term.
As leader of the consortium, Bolloré Ports will operate all container activities for the new port. Drawing upon its expertise in port concessions and experience of the African continent, Bolloré Ports will deliver competitive solutions meeting the highest standards of quality. PowerChina, an international benchmark company specialised in energy and infrastructure will conduct the works required for the port infrastructure.
According to Philippe Labonne, the CEO of Ballore Port, “We are proud to have been chosen by the Nigerian authorities and the Akwa Ibom State to build the future IDSP port. This greenfield project is a game-changer that will reinforce the port system of Nigeria, Africa’s biggest economy and most densely populated country. Besides, it will directly serve the East and North-Eastern regions, as well as several hinterland countries.”
The Ibom Deep is under the regulatory supervision of Oil & Gas Free Zones Authority – OGFZA, Nigeria’s oil and gas free zones regulator whose current MD/CEO is Mr Umana Umana.