Mediterranean Shipping Company, headquartered in Geneva, Switzerland, has signed a 45-year sub-concession agreement with Nigerdock to develop, operate, and maintain an exclusive container terminal spanning 30 hectares within Snake Island Port (SIP), Lagos.
A statement by MSC on Thursday noted that the new container terminal will be completed by 2028 with a 910-meter quay, six Ship-to-Shore (STS) cranes, two ship berths, three barge berths, and up to 18 meters of draft.
Commenting on the alliance, Nigerdock CEO, Maher Jarmakani, said: “We are thrilled to take this step forward in our partnership with MSC to develop a world-class container terminal within Snake Island Port.
“This gives the world’s leading shipping line a home in Nigeria and brings significant foreign direct investment into the country to accelerate growth in the maritime and logistics industry.”
MSC President, Diego Aponte, said: “Completing this key phase in the development of Snake Island Container Terminal with Nigerdock and our trusted partners demonstrates MSC Group’s commitment to providing excellent service to our customers in Nigeria and throughout Africa.
“The new terminal will open up opportunities, enhance efficiency, and elevate Snake Island Port as a major global shipping centre.
“Together with our Group’s other long-term investments in Nigeria, it will generate many local jobs and significantly increase economic revenue and resilience.”
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Snake Island Port is an 85-hectare port facility operated by Nigerdock, comprising three terminals, which have significantly boosted Lagos Port’s capacity and existing operations.