APM Terminals Confirm Plans To Invest $500 Million In Port Upgrade

It said this is outside the $600 million it injected in the acquisition of equipment, including trucks, container cranes as well as advanced operational controls, digital interfaces, and extensive training of employees since 2006.

Keith Svendsen, Chief Executive Officer of APM Terminals, in a statement titled “Our Vision For Nigerian Ports and Growth” revealed APMT is also at the verge of concluding a USD 115m upgrade project in Onne Rivers State.

Svendsen said the fresh investment is to ensure the terminal has sufficient capacity and capabilities to service the south/eastern Nigeria market and the growth expected in coming years, while the Apapa port continues to offer a unique access to Nigerian importers and exporters to international markets through not just road, but also rail and waterways, by means of barges.



He said Nigeria is a key market in Africa and that APMT is proud of the central role it plays in enabling containerized trade between the country and the rest of the world.

According to him, AP. Moller-Maersk has been present in Nigeria for more than 35 years and that it’s vessels have been serving the country essentially since Independence.

“Our two container terminals in Lagos and Onne handle about half of the containers going in and out of Nigeria, and our vessels transport close to a third.

“APM Terminals have been operating in Nigeria since 2006 and have invested more than USD 600 million during this period in equipment, including trucks and container cranes as well as in advanced operational controls, digital interfaces, and extensive training of employees to provide customers with a fully modern and safe experience. We employ about 2,500 people directly (99% Nigerians) and indirectly create employment for about 65,000 according to a recent socio-economic study.

“At APM Terminals, we believe strongly in the future prospects for the Nigerian economy, and the long-term opportunities that the current economic reforms and invitation for international investments will generate.

“At Onne, we are concluding a USD 115m upgrade project to ensure the terminal has sufficient capacity and capabilities to service the south/eastern Nigeria market and the growth expected in coming years, while the Apapa port continues to offer a unique access to Nigerian importers and exporters to international markets through not just road, but also rail and waterways, by means of barges

“Having been present there for close to two decades, we believe that Lagos, as the main port, needs further investments to cater for increasing trade volumes and to be able to attract large container vessels. While greenfield terminals like Lekki and later on Badagry will support economic growth in the long run, the more urgent requirement is in our view to upgrade the existing port infrastructure to ensure road, rail and barge networks can connect directly to mainline shipping.

“We have developed plans to undertake the necessary terminal upgrade investments in Apapa to give access to vessels with deep draft and requiring large ship-to-shore cranes. We seek to do this under a long-term agreement with the government to support our ambition to continuously improve the import and especially export opportunities for the country, creating jobs and diversifying opportunities locally.

“As we are still not at the finish line, we have intensified talks with the administration and port authority to make these plans concrete and I’m pleased with the significant progress made towards implementation. That is why I earlier this year publicly told about the proposal to invest more than USD 500 million that we have discussed with the President Tinubu both in February,  and which we further elaborated in late April. It should go hand-in-hand with a long-term partnership.
For us in APM Terminals, it is important that we not only operate highly efficient terminals, but also that we play a role contributing to the development of the local communities and bring in opportunities for growth and new prospects for Nigerians” he added.

https://dailytrust.com/apm-terminals-confirm-plans-to-invest-500-million-in-port-upgrade/

Let's wait for 3 days first to confirm if it is true....

Good

Nigeria will be great!

K

Na wa o
Is this not old gist now revived? I hope this will bring the dollar down to 600naira before sunday.
Damage control in full swing...
But why delete the earlier twist, oga media aide? just asking for my neighbours?

Obidients will start crying again. Enemies of development and progress.

To them, APM Terminals should have invested that money in a beer factory.

Another one as usual.

Expect denial before dawn

Gc

That's a nice gesture

blamingthedevil:
APM Terminals Confirm Plans To Invest $500 Million In Port Upgrade






https://dailytrust.com/apm-terminals-confirm-plans-to-invest-500-million-in-port-upgrade/

Believe this so called investment at your own peril

Audio investment everywhere by FG ..

But yet better than if PitObi should be the president..

PitObi 2099

I rep

Let the wailing by obedient begin

Slytiger:
Obidients will start crying again. Enemies of development and progress.

To them, APM Terminals should have invested that money in a beer factory.

Lol am sure you got the embarrassment you deserve earlier on. You don't use propaganda to run a government it's impossible

Is this what FG's spokesman, Bayo was referring to? They should learn to calm down and let their PAs analyse some news before putting it out. Too many errors affect credibility

It said this is outside the $600 million it injected in the acquisition of equipment, including trucks, container cranes as well as advanced operational controls, digital interfaces, and extensive training of employees since 2006.

Keith Svendsen has come through for Tinubu. I hope he's not trying to save his reputation.

It's quite funny that he had a discussion with the president over a project worth $500 million in February and other key staffers of the company didn't know about it, including your PRO.

Why is that Peter Obi and followers always feel bad about any developmental stride in Nigeria. How can a former governor said coastal highway is not priority?

E-BOLA Tinubu Amoda is a Criminal

Every pot in Nigeria as of today needs upgrading. People's appetite have reason yet..........PORT KO, KETTLE NI

muykem:
Why is that Peter Obi and followers always feel bad about any developmental stride in Nigeria. How can a former governor said coastal highway is not priority?

They are evil and bitter people 😂

These people will come and cry now 😂🤣😂🤣

muykem:
Why is that Peter Obi and followers always feel bad about any developmental stride in Nigeria. How can a former governor said coastal highway is not priority?

Come are you really normal or is this a mental illness?

Fake news

Let the money go to the right hands.

okoo

Buhari4dullard:

Without the Igbos Apapa port will be useless.
Guess what will happen when we break

Agbero no sabi container

Without the ibos, dangote's Rabiu, Otedola, e.t.c businesses in Lagos will be useless.

Let's confirm from Arise TV and Rufai