The Governing Board of the Nigerian Ports Authority (NPA) has approved the concession of Terminal B, Warri Old Port to Messrs Ocean and Cargo Services Limited.
The approval was the highlight of a meeting of the board held at the NPA Headquarters in Lagos, chaired by its chairman, Emmanuel Adesoye.
A statement by the NPA management said the concession is in continuation of the Port Reform process started by the federal government of Nigeria through the Bureau of Public Enterprises (BPE),
in 2006.
The statement said the new concessionaire emerged from seven pre-qualified bidders who responded to a Request for Proposals (RfPs) issued by BPE on September 27, 2017.
Ocean and Cargo Services Limited will operate the terminal which has been abandoned for the past ten years in a concession agreement for a 25-year term, the statement highlighted.
Within this period, the concessionaire would rehabilitate infrastructure at the terminal and deploy modern technological infrastructure with the aim of making the facility competitive. The
development plan for the terminal will be reviewed every five years to make it responsive to changes in operations.
