Lekki stake sold to CMA CGM

The partnership of ICTSI and CMA CGM will help the terminal strive to become the supplier of choice in West Africa and give customers a “sustainable competitive advantage” in the market.

Gagan Seksaria, CFO & Head – Investments, ICTSI Africa region, told Port Strategy: “CMA-CGM, the third largest line globally, is one of the largest players in the Nigeria and West Africa markets. Liner companies need sufficient quality capacity in the Lagos market in the coming years to continue serving this fast growing market effectively.”

“Lekki shall also emerge to be the most optimal location in West Africa for transhipment allowing lines to serve West Africa through the hub and spoke model while serving Nigeria directly, he added.

It has been mooted that LICTSE will help provide a solution to the current congestion in Nigeria because the terminal is designed to allow for further capacity growth exceeding the initial 2.5m teu.

Mr Seksaria told PS that he believes that the Government of Nigeria has consistently demonstrated its support for the Lekki port project to the exclusion of all other project concepts that are being developed for around the Lagos market.

He said that the Lekki port project is far ahead in its execution. The land is in place as well as an EPC contract signed with China Harbour Engineering Company.

ICTSI has made no bones about the fact that Africa is one of its most important regions in terms of growing business. It recently established its first terminal in the Democratic Republic of Congo.