The Federal Government has approved a provisional Concession deal with Mercury Marine Concession Company (MMCC), promoters of the Escravos Seaport Industrial Complex (ESIC) for the establishment of a deep seaport in the Escravos area of Delta State.
Chairman, Chief Executive of MMCC, Rear Admiral Andrew Okoji told newsmen that the Federal Ministry of Transport has directed the firm to lodge a billion into the coffers of the Federal Government to show their seriousness.
The project will be home to eight other projects including a deep seaport, a free trade zone, a crude oil refinery and gas complex and nature conservation park.
Okoji, stated that the project would generate about 40,000 employment and eliminate criminality such as piracy in the region, adding that the funding of the seaport project is coming from off-shore financial institutions.
‘‘It is going to be a lease for about 50 years, the investment for the port is coming from abroad.
‘‘We have gotten a provisional approval from the Federal Government through the Federal Ministry of Transportation as they have told us to lodge in 1billion dollars as evidence of capacity to the fund the construction of the port and to lodge in your money, there are certain protocols that must be met. We are currently carrying out these protocols.
‘‘The Nigerian Ports Authority is going to be part of the project, I think they will get some percentage as regards to the equity, I think about percent just for monitoring purpose. ‘‘I will tell you, you have been talking about Lekki Deep Seaport for the past twenty years but I am telling you that within the next five years we will complete the construction of the port, ” he said.
