‘Escravos deep seaport ready for operation in 5yrs’

Barring any last minute change in plan, the proposed N40.14 trillion Escravos Industrial Complex (ESIC) project in Gbaramatu, Delta State, would be open for commercial operation by 2029, the Mercury Maritime Concession Company (MMCC) has said. The chairman of the company, Rear Admiral Andrew Okoja (retd), who made this disclosure while addressing newsmen in Lagos, […]

Barring any last minute change in plan, the proposed N40.14 trillion Escravos Industrial Complex (ESIC) project in Gbaramatu, Delta State, would be open for commercial operation by 2029, the Mercury Maritime Concession Company (MMCC) has said.

The chairman of the company, Rear Admiral Andrew Okoja (retd), who made this disclosure while addressing newsmen in Lagos, said documents about the project were before the Ministry of Industry, Trade and Investment, which is the supervisory ministry.

Okoja revealed that the ministry had given the assurance that the much awaited revalidation would be granted by the federal government before the expiration of the June deadline.

It would be recalled that the project financier, EDIB International of Hong Kong, had threatened to withdraw its sponsorship of the project if the June 30, 2024 deadline was not met.

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Daily Trust had reported that Nigeria stood the chance of losing N40.14 trillion direct and indirect foreign investment over the prolonged delay in the takeoff of the Escravos Seaport Industrial Complex (ESIC) project in Delta State by the end of June 2024.

The chairman of MMCC further said the firm had received revalidation from the Delta State Government but it awaits revalidation from the federal government.

“We have received a revalidation from Delta State Government, which was communicated to us early this week. We are also in touch with the Ministry of Industry, Trade and Investment, the supervisory ministry for this project and they have assured us that the revalidation of the federal government would be granted before the expiration of the June deadline the project financier gave us,” he said.

He said the project would run across eight ministries, including the Ministry of Solid Minerals, Ministry of Works, Ministry of Marine and Blue Economy and the Ministry of Power.

Ausbet Udebu, a director at the MMCC, said the project involved one deep seaport, inland ports in seven states, building of an intermodal transport system for cargo evacuation, including 45km coastal roads, 150km rail line that would connect existing Warri-Ajaokuta-Itakpe railway and 600km of marine network.