• Tue. Aug 9th, 2022

    Mercury Maritime Concession Company Will Complete The Multibillion-Dollar Escravos Seaport Industrial Project By 2024/2025 – Rear Admiral Andrew Okoja

    ByHyacinth Chinweuba

    Jun 25, 2022

    The multi-billion dollar Escravos Industrial Project will be completed between 2024 and 2025, according to Mercury Maritime Concession Company (MMCC), experts in developing maritime-related infrastructure.

    Rear Admiral Andrew Okoja (Rtd), the company’s Chairman, revealed this in an interview with Newsmen conducted in conjunction with the World Hydrography Day 2022 event at the Admiralty Conference Centre of the Naval Dockyard Ltd., Victoria Island Lagos.

    According to Okoja, the $50 billion
    project’s Build, Operate, Own, and Transfer (BOOT) Models calls for the the construction of a deep seaport, a gas plant, a 
    nature park, and an airport on 31,000 hectares of land in 
    Gbaramatu Delta State.

    We are a privately-driven enterprise, and the multi-billion dollar deep seaport project we are working on is similar to the Lagos Deep Seaport Project, he said.

    “Our Escravos Seaport Industrial Project consists of a deep seaport as well as a number of other large-scale initiatives, including a refinery, a gas plant, a free trade zone, a nature park, and an airport”

    The deep seaport and connectivity have only recently begun, and the contract is for roughly $50 billion.

    “Like the Lagos Deep Seaport, this port is built, owned, operated, and transferred (BOOT), and delivery is anticipated to occur between 2024 and 2025.

    About 25 foreign and local consultants 
    and partners are working on this project,which is being directed by the MMCC. 

    The Port of Antwerp International, 
    the second-largest port in Europe after Rotterdam Port, is organizing it.

    Speaking about the project’s phased approach, Okoja revealed that the amount of cargo flow would define the port’s value at each stage, and that the business has concluded that the project’s strong connectivity provides a solid operational base.

    In his own words: “We have taken care of marine connectivity, rail connectivity, and road connectivity. This means that the worth of the Port itself is defined by the volume of cargo movement. As a result of its size, it will cover almost 70% of the country’s geographical spread.

    “For instance, from the port, the River Niger and Onitsha are connected by water via the Escravos port. The second phase ascends to Lokoja from Onitsha. The first phase will cover roughly 350 km, with 200 km from Onitsha to Lokoja and 200 km from the port.

    The MMCC Chairman also revealed that the project would be inaugurated by the Suez Canal Authority of Egypt, with whom the business has signed a Memorandum of Understanding.

    He continued, “Concession for between 50 and 75 years is being discussed with the Ministry of Transport; this link will be concessioned.”

    Regarding the second connection, a rail connection, Okoja would link the Port to Warri and then ascend to Itakpe, Ajaokuta, from Warri.

    Nevertheless, he said that the firm would travel the roughly 47 km leg from Escravos Port to Warri, which is also under concession, and that it would be the first electric train in Nigeria.

    According to Okoja, the enterprise would be producing roughly 2000 megawatts of power to run the electric train.

    The third phase, according to the MMCC Chairman, is a direct route around the Koko intersection from the Escravos sea port to the Warri-Sapele Road.

    “We are also concessioning for another 50 years, and we will be tolling,” he continued. With this, we have the inflow and outflow of goods, and we predict that we can cover 70% of the earth’s surface.

    “As a result, both air and landborne cargo would enter. And the flow—or how busy it is—of a port determines its worth.

    “We mobilized all these contractors because we have the temporary approval from the Federal Government to build the port.”

    The Lagos ports are anticipated to become less crowded upon project completion and launch, and thousands of jobs are anticipated to be created in the sector.

    Hyacinth Chinweuba

    HYACINTH Chinweuba is a seasoned journalist and Managing Editor of Hybrid News Nigeria.

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