Eco Support Nigeria Ltd, has been awarded the management of a part of Apapa Port where major business involves oil exports and imports, a report on Bloomberg said, quoting the Transport Minister, Idris Umar.
The contract is a 20-year concession where Eco is to spend $124 million over the next two years to develop the port, expand capacity and meet increasing demand in shipping of petroleum products.
The President Goodluck Jonathan administration plans to lift spending on road, rail and power projects to spur business in the country. The federal government on October 26 gave a $370.5 million contract to expand Onne Port, near the oil region of Port Harcourt, to Intels Nigeria Ltd., Information Minister Labaran Maku said.
Umar also said that the government had approved an extra N8.5 billion to dredge and build inland ports along a 572-kilometer (355 mile) stretch of the River Niger from the southern city of Warri to the central town of Baro, adding that the government had already approved N34.8 billion for the project in 2008.
