Business Hallmark has learnt that the presentation, approval and commercial close of the procurement process for the development of Ibom Deep Water Port, IDWP, by the Federal Executive Council, is the next stage of the project.
It would be noted that Bollore and Power China had earlier emerged the preferred bidder for the deep seaport development, following the bidding process which held since 2018.
Formerly known as Ibom Deep Seaport, the IDWP project involves the development of a Greenfield Deepsea Port and accompanying Free Trade Zone in Akwa Ibom State, South-South geopolitical zone of Nigeria.
The proposed deep seaport and FTZ are part of the planned Ibom Industrial City initiative, proposed to be established on a 14,400-hectare site donated by the Akwa Ibom State Government.
Director General of the Infrastructure Concession Regulatory, Chidi Izuwah, speaking during the presentation of the Full Business Case Compliance Certificate for the project to the Minister of Transportation, Hon. Rotimi Amaechi, in Abuja, said the project is a major economic gateway.
Izuwah said the Federal Government was set to move to the next level of the procurement process for the development of the Ibom Deep Water Port, through Public Private Partnership.
He also commended the Minister of Transportation, the Managing Director of the Nigerian Ports Authority, Hadiza Usman as well as Akwa Ibom State Govornor, Udom Emmanuel, for all their efforts in getting the project to this point.
“The IDWP project is planned to become a major national and regional economic gateway that will provide additional container handling capacity for the country.
“In addition to containers, the IDWP is expected to handle petroleum products, crude oil, natural gas, vehicles and bulk trade in natural resources thereby expanding and further developing the nation’s transport sector