APM terminals to invest over $500 million to upgrade Nigerian port

APM Terminals, Nigeria’s largest logistics terminal operator, announced plans to invest over $500 million in upgrading the country’s port facilities.

APM said this investment is separate from the $600 million the company has already spent on equipment, including trucks, and container cranes, as well as advanced operational controls, digital interfaces, and employee training since 2006.

The Chief Executive Officer of APM Terminals, Keith Svendsen, said the new investment aims to ensure Nigerian ports can handle future growth.

Svendsen disclosed that APMT is also on the verge of concluding a USD 115 million upgrade project in Onne Rivers State.

“Our two container terminals in Lagos and Onne handle about half of the containers going in and out of Nigeria, and our vessels transport close to a third,” Svendsen stated in a statement titled “Our Vision For Nigerian Ports and Growth.”Svendsen said

“APM Terminals have been operating in Nigeria since 2006 and have invested more than USD 600 million during this period in equipment, including trucks and container cranes, as well as in advanced operational controls, digital interfaces, and extensive training of employees to provide customers with a fully modern and safe experience. We employ about 2,500 people directly (99% Nigerians) and indirectly create employment for about 65,000, according to a recent socio-economic study.”

He stated that the fresh investment is to ensure the terminal has sufficient capacity and capabilities to service the south-eastern Nigerian market and the growth expected in coming years.

Svendsen added that the Apapa port continues to provide Nigerian importers and exporters with unique access to international markets via not only roads but also rail and waterways via barges.

Nigeria is an important market in Africa, he stated, noting that APMT is proud of its central role in facilitating containerised trade between the country and the rest of the world.

According to him, AP. Moller-Maersk has been present in Nigeria for more than 35 years and that it’s vessels have been serving the country essentially since independence.

“At APM Terminals, we believe strongly in the future prospects for the Nigerian economy, and the long-term opportunities that the current economic reforms and invitation for international investments will generate,” Svendsen said.

“At Onne, we are concluding a USD 115m upgrade project to ensure the terminal has sufficient capacity and capabilities to service the south/eastern Nigeria market and the growth expected in coming years, while the Apapa port continues to offer a unique access to Nigerian importers and exporters to international markets through not just roads but also rail and waterways, by means of barges.”