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Tuesday, 07 October 2014

Nigeria completes Phase 4 of Onne Port project

Nigerian president Goodluck Jonathan has inaugurated Phase 4 of the country’s $204 million Onne Port Complex.

Following successful completion of construction work at the site the port now features three 15-metre depth berths, 800 hectares of reclaimed quay area and road networks connecting to other parts of the oil and gas Free Trade Zone (FTZ).

"Investors have every reason to have confidence in this administration and are urged to key into government's effort. The Onne Free Trade Zone for oil and gas export is not only the biggest hub for oil and gas business, but also the fastest growing free trade zone in the world, which has provided about 50,000 jobs,” Nnamdi Sambo, Nigerian vice president commented.

Onne energy port expands Nigeria’s international credentials

The latest expansion work is part of wide ranging infrastructure upgrades, with a planned phase 4B already underway. A $2.8 billion contract has been awarded by the government to Deep Offshore Limited to develop eight new berths, beginning from 12 to 19, reclaim 600 hectares of swamp land and build15.5km port roads and other port facilities over the next six years.

"At a total cost of $3 billion for phases 4 and 4B, with about $2.8 billion for Phase 4B alone, the later project is indeed a game changer expected to support unprecedented oil and gas operations and will make the zone to become Africa's first full scale oil and gas industrial city. With these projects, we are mobilising unprecedented level of investment into Nigeria,” Olusegun Aganga, Nigerian Minister of Industry, Trade and Investment said.

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