MSC, Nigerdock sign 45-year concession deal to develop Snake Island terminal

The Mediterranean Shipping Company (MSC) has signed a 45-year sub-concession agreement with Nigerdock to develop, operate and maintain an exclusive 30 hectares container terminal within Snake Island Port (SIP) in Lagos.

In a statement by the Chief Marketing Officer, Nigerdock FZE, Snake Island Integrated Free Zone Kevin Johnson-Azuara, the new container terminal is expected to be completed by 2028 with a 910-meter quay, six Ship-to-Shore (STS) cranes, two ship berths, three barge berths and a draft of up to 18 meters of draft.

Commenting on the alliance, the Chief Executive Officer, Nigerdock, Maher Jarmakani, said expressed delight at the partnership with MSC to develop a world-class container terminal within Snake Island Port.

He said the partnership with the shipping line brings significant foreign direct investment into Nigeria to accelerate growth in the maritime and logistics industry.

“Snake Island Port is an 85-hectare port facility operated by Nigerdock. It is comprised of three terminals which have significantly boosted Lagos Port’s capacity and existing operations,” he said.

The President, MSC, Diego Aponte, said completing this key phase in the development of Snake Island Container Terminal with Nigerdock and its trusted partners demonstrates MSC Group’s commitment to providing excellent service to its customers in Nigeria and throughout Africa.

According to him, the new terminal will open up opportunities, enhance efficiency and elevate Snake Island Port as a major global shipping centre.

” Together with our Group’s other long-term investments in Nigeria, it will generate many local jobs and significantly increase economic revenue and resilience,” he said.