- HOW TEMANE-MAPUTO ELECTRICITY TRANSMISSION LINE PROJECT IS GOING THROUGH TEST IN MOZAMBIQUE
- NEWLY OPENED PLASTIC RECYCLING PLANT SET TO HELP COMBAT NAMIBIA's PLASTIC INDUSTRY
- PROGRESS MADE ON PIIM PROJECTS AS OVER 85% COMPLETED IN ANGOLA
- WORLD BANK KICK-OFF INSPECTION OF USMID PROGRAM IN UGANDA
- ALGERIA MINISTER RECIEVED HARBOR ENERGY CEO OVER ENERGY PARTNERSHIP
LEKKI DEEP SEAPORT SET TO BE OPENED SOON
The Lekki Port LFTZ Enterprise Limited (LPLEL) is the Special Purpose Vehicle (SPV) that was awarded the Concession Agreement for the development and operations of the Lekki Deep Sea Port by the Nigerian Ports Authority. LPLEL is required to develop, build and operate a common user multipurpose port. The company sub-concessioned the container terminal operations to Lekki Freeport Terminal (LFT), a subsidiary of CMA/CGM, the world’s largest container shipping company.
LPLEL is a joint venture enterprise owned by foreign promoters, Lekki Port Investment Holdings Inc (comprising China Harbour Engineering Company Ltd. and Tolaram), the Lagos State Government, and the Federal Government of Nigeria through the Nigerian Ports Authority (NPA).
LPLEL is incorporated under the Companies & Allied Matters Act regime and licensed by the Lagos Free Zone to operate in the Free Zone under the NEPZ Act. This opens a host of benefits for Lekki Port regarding taxes, duties, and other incentives.