MSC, Nigerdock seal 45-year deal for Lagos container terminal

Mediterranean Shipping Company (MSC), a global leader in transportation and logistics, has signed a 45-year concession agreement with Nigerdock, Nigeria’s leading indigenous oil and gas services company, to develop, operate, and maintain a new container terminal, spanning 30 hectares within Snake Island Port (SIP), Lagos.   The terminal, which is expected to be ready by 2028, […]

Mediterranean Shipping Company (MSC), a global leader in transportation and logistics, has signed a 45-year concession agreement with Nigerdock, Nigeria’s leading indigenous oil and gas services company, to develop, operate, and maintain a new container terminal, spanning 30 hectares within Snake Island Port (SIP), Lagos.  

The terminal, which is expected to be ready by 2028, will be part of MSC’s $1 billion, (about N1.4 trillion) investment in Nigeria’s infrastructure and logistics sector.

It demonstrates the company’s commitment to supporting the country’s economic growth and development.

The strategic partnership is expected to significantly enhance Nigeria’s maritime infrastructure and boost the country’s economy. 

On completion, the terminal is projected to have an annual capacity of 1.5 million Twenty-Foot Equivalent Units (TEUs), making it one of the largest container terminals in West Africa. The facility will also include three barge berths and up to 18 meters of draft, enabling it to accommodate large container vessels.

Commenting on the alliance, Nigerdock CEO, Maher Jarmakani, said: “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.” 

Diego Aponte, President of MSC, expressed his excitement about the partnership, stating that the new terminal will “open up opportunities, enhance efficiency, and elevate Snake Island Port as a major global shipping center. Together with our Group’s other longterm investments in Nigeria, it will generate many local jobs and significantly increase economic revenue and resilience.”

“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 center.”