• June 18, 2021

$2.9 Billion Deep Seaport To Be Established At Escravos By MMCC


(AGENDAWATCHDOG) – Efforts are being made to decongest Lagos ports as the Mercury Maritime Concession Company (MMCC) Ltd is in the process of setting up a $2.9 billion deep seaport at Escravos, Delta, a project that is expected to be completed within 5 years.

The Chairman of MMCC, Rear Admiral Andrew Okoja, disclosed this at a stakeholders’ forum for the proposed Escravos Seaport Industrial Complex (ESIC – 1) project in Lagos, adding that the project, which was at its preparatory stage, would be run on a build, own, operate and transfer model for a period of 50 years with funding coming from overseas.

Okoja’s statement read in part, “MMCC is the promoter of the Escravos Seaport Industrial Complex (ESIC-1) project; this is a maritime-driven project cited in Escravos in Delta State, on approximately 31 hectares of land.

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“This project will consist of a deep seaport, others and a platform to drive resources from one point to another.

“We went into this project because we have the capacity, experience and connections; we decided to deploy them to solve the maritime problem of the country,” he said.

The proposed $2.9 billion seaport project, which includes a deep seaport, free trade zone, crude oil refinery and gas complex, would boost economic development. Other components of the project include industrial layouts, an independent power plant, a nature conservation park, an international airport and the development of prime infrastructure, new towns and cities.

PROJECTED IMPACT: The project, when completed, will create approximately 30,000 to 40,000 jobs for the residents in surrounding communities and would help check the challenges of piracy, militancy and youth restiveness in the region, and boost general economic development.


Agenda Watchdog

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