<![CDATA[The procurement process for the commencement of work at Ibom Deep Seaport has begun. The process requires private sector players signifying interest in financing the development of the port. According to the statement by the promoters of port, transhipment container market for the IDSP is estimated to grow from about 1.2 million (Ten Equavelent Units) TEUs in 2021 to about four million TEUs in 2040 and when the port is fully developed, the container terminals will be able to accommodate up to 13 New Panamax Class container vessels and two very large feeder vessels. The Ibom Deep Seaport is strategically located in the South East of Akwa Ibom State, on a 2,565 hectares Greenfield port area which is designed for New Panamax, Class vessels with channel (18.24m); turning basin and berth depth (16.72m) and quay length of about 7.5 km. The project is said to be in an enviable position to emerge as the first major transhipment hub for the region. As contained in the statement, “due to its proximity to target markets in West and Central Africa, neighbouring hinterland countries and major shipping lines calling West/Central Africa, large gateway market size to attract direct vessel services and sizeable transhipment cargo hinterland for feeder shipping network connection, as well as its capacity to handle post and New Panamax vessels at its specialized terminals. “The IDSP is in an enviable position to emerge as the first major transhipment hub for the region. The transhipment container market for the IDSP is estimated to grow from about 1.2 million TEUs in 2021 to about four million TEUs in 2040,” the statement added. It was gathered that the seaport was unarguably one of the most promising Public Private Partnership (PPP) infrastructure initiatives in Africa because of the unique and unparalleled investment opportunities it offers international seaport developers, operators and investors as well as its potential for driving inclusive economic growth in Nigeria and the West and Central African sub-region.]]>
Procurement process for Ibom Deep Seaport commences
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