The leading global terminal operator, APM Terminals, has invested N184billion (about $438million) on infrastructure development, information technology upgrades and modern cargo handling equipment among others at Apapa port.
In furtherance to its investment, the company recently acquired two new multimillion dollars state-of-the-art Mobile Harbor Cranes (MHCs) to boost service delivery at the port, which was commissioned by the Managing Director of Nigerian Ports Authority (NPA), Hadiza Bala Usman, in Lagos.
The new cranes were acquired as part of APM Terminals’ additional investment of $80 million (N33.6billion) for the year 2020-2021, bringing the total investment by the company in Apapa since 2006 to $438million (about N184billion), which is the highest by any private terminal operator in the country.
While commending the management of APM Terminals for acquiring the new cranes, Bala Usman said the ports were concessioned by the Federal Government to improve port efficiency and free government resources for other developmental purposes. She said cargo volumes at the port have witnessed a steady rise due to favourable government policies. She said NPA has continued to engage with private terminal operators at the port to rise up to the challenge of the increased cargo traffic.
The engagement with the operators, according to her, is yielding tangible results as evidenced by the commissioning of the two new mobile harbor cranes, among others.
APM Terminals invests N150bn in port infrastructure, acquires additional cranes the company had invested $358million (N150.36billion) in port infrastructure development, information technology upgrades and modern cargo handling equipment to improve both quayside and landside operations.
Speaking earlier, the Head of Terminals, Africa and Middle East region of APM Terminals, Mr. David Skov, said before now, the company had invested $358million (N150.36billion) in port infrastructure development, information technology upgrades and modern cargo handling equipment to improve both quayside and landside operations.
He said: “The additional investment we are making is to handle the increased trade volumes into Nigeria. Trade in Nigeria is growing due to the many favorable efforts and policies of the Federal government of Nigeria including but not limited to the policy on ease of doing business; stabilization of foreign exchange; closure of the land borders which has increased the use of our sea ports.”