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ICTSI signs Sub-Concession Agreement with LPLE for the container terminal at Tolaram Port@Lekki in Nigeria

International Container Terminal Services, Inc. (ICTSI) and Lekki Port LFTZ Enterprise (LPLE) signed on August 10, 2012 the Sub-Concession Agreement (Agreement) for a container terminal at a deep water port in the Lagos Free Trade Zone (Tolaram Port@Lekki) at Ibeju Lekki, Lagos State, Federal Republic of Nigeria.
The Tolaram Por@Lekki is currently being developed and managed by the Tolaram Group in partnership with the Nigerian Port Authority and the Lagos State Government.

The Agreement grants ICTSI, as sub-concessionaire, the exclusive right to develop and operate, and to provide certain handling equipment and container terminal services at the container terminal located within the Tolaram Port@Lekki for a period of 21 years.

The strategic location of the container terminal, combined with its state-of-the-art facilities will enable Tolaram Por@Lekki to establish itself as the preferred port terminal in the region. With a quay of 1,200 meters, this modern facility, which is expected to be fully operational in 2016, will have an annual capacity of 2.5 million Total Equivalent Units, making it the largest single terminal in sub-Saharan Africa.

ICTSI is a leading port management company involved in the operations and development of 24 marine terminals and port projects in 17 countries. ICTSI was among the first international terminal operators to take its expertise overseas, and has received global acclaim for its public-private partnership with economies divesting of its port assets to the private sector.
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"ICTSI signs Sub-Concession Agreement with LPLE for the container terminal at Tolaram Port@Lekki in Nigeria" was written by Mary under the Business category. It has been read 1647 times and generated 0 comments. The article was created on and updated on 10 August 2012.
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