The MoU demonstrates that ICTSI has been selected as the preferred operator to act under a sub-concession to equip and operate the container on an exclusive basis for a period of twenty years \u2013 forming a framework for the formal agreement.<\/p>\n
Jens O. Floe, ICTSI senior vice president for Africa, said: \u201cThe Lekki container terminal will provide a quality alternative to container handling facilities in the region, dramatically improving Nigeria\u2019s international connectivity and its supply chains.\u201d<\/p>\n
Port@Lekki is a visionary project due for completion in 2016 and is the largest of its kind in Sub-Saharan Africa \u2013 it is promoted by the Tolaram Group in partnership with the Nigerian Ports Authority (NPA) and the Lagos State Government (LASG).<\/p>\n
The terminal will have a handling capacity of 2.5m teu when completed and it is slated to be a major transhipment hub for the West African region and a model for infrastructure development in Africa.<\/p>\n
ICTSI reported a good year in 2011. The group\u2019s net income grew by 33% to US$130.5m. Aside from Lekki in Africa, the group is currently pursuing the acquisition of more new terminal concessions.<\/p>\n","protected":false},"excerpt":{"rendered":"
Lekki Port LFTZ Enterprise (LPLE) and International Container Services Inc. (ICTSI) have signed a memorandum of understanding (MoU) for the operation of the container terminal at the Tolaram Port@Lekki.<\/p>\n","protected":false},"author":8,"featured_media":3532,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33],"tags":[],"sponsor":[],"class_list":["post-3531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-africa"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/3531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/comments?post=3531"}],"version-history":[{"count":1,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/3531\/revisions"}],"predecessor-version":[{"id":3533,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/3531\/revisions\/3533"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/media\/3532"}],"wp:attachment":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/media?parent=3531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/categories?post=3531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/tags?post=3531"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/sponsor?post=3531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}