APM Terminals will invest 500 million dollars in Nigeria

Danish shipping company APM Terminals-Nigeria said on Thursday it has a plan to invest $500 million in the country’s economy through the maritime sector in the coming years.

Recall that there has been controversy after the Special Adviser to the President on Media and Publicity, Ajuri Ngalale, said that Nigeria secured a $600 million investment to expand existing port infrastructure to accommodate more container shipping services in the Nigerian ports.

There were reports that AP Moller-Maersk denied investment commitment to the federal government.

However, in a statement titled ‘Our Vision for Nigerian Ports and Growth’ by APM Terminals CEO Keith Svendsen, a copy of which was made available to LEADERSHIP, he said they have developed plans to carry out the upgrade necessary from the terminal. investments in Apapa to provide access to deep-draft vessels that require large ship-to-shore cranes.

In his words, the company held investment talks with President Bola Tinubu in February and April, stating that they have intensified talks with the administration and port authorities to finalize the plans.

“At APM Terminals we firmly believe in the future prospects of the Nigerian economy and the long-term opportunities that current economic reforms and the invitation to international investment will generate. At Onne, we are concluding a $115 million upgrade project to ensure the terminal has sufficient capacity to serve the southern and eastern Nigerian market and expected growth in the coming years, while the Apapa port continues to offer a unique access to Nigerian importers and exporters. to international markets not only by road, but also by rail and waterways using barges,” said the general director.

He continued: “Having been present there for almost two decades, we believe that Lagos, as a major port, needs more investments to serve the growing trade volumes and be able to attract large container ships. While new terminals such as Lekki and later Badagry will support long-term economic growth, in our view the most urgent requirement is to upgrade existing port infrastructure to ensure road, rail and barge networks can connect directly to the line main maritime transport.

“We have developed plans to carry out the necessary investments in the improvement of the terminal in Apapa to provide access to vessels with deep draft and that require large ship-to-shore cranes. We seek to do this under a long-term agreement with the government to support our ambition to continually improve import and especially export opportunities for the country, creating jobs and diversifying opportunities locally.

“As we have not yet reached the goal, we have intensified conversations with the administration and the port authority to finalize these plans and I am satisfied with the important progress made towards their implementation. That is why earlier this year I spoke publicly about the proposal to invest more than half a billion dollars, which we discussed with President Tinubu in February and which we elaborated in more detail at the end of April. It should go hand in hand with a long-term partnership.

“For us at APM Terminals, it is important to not only operate highly efficient terminals but also play a role in contributing to the development of local communities and provide growth opportunities and new prospects for Nigerians,” he revealed.

Svendsen further stated that the terminal believes in long-term opportunities and investments in the country’s economy, stating that Nigeria is a key market in Africa for the company.

“For APM Terminals, Nigeria is a key market in Africa and we are proud of the central role we play in enabling containerized trade between the country and the rest of the world. AP Moller-Maersk has been present in Nigeria for over 35 years and our vessels have been serving the country essentially since Independence.

“Today, our two container terminals in Lagos and Onne handle approximately half of the containers entering and leaving Nigeria, and our vessels carry about a third. APM Terminals has been operating in Nigeria since 2006 and has invested more than $600 million during this period in equipment, including container trucks and cranes, as well as advanced operational controls, digital interfaces and extensive employee training to provide customers a totally modern platform. 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.”