THE $27.29 billion Escravos Deep Seaport Industrial Complex Project in Warri has received a significant boost following its revalidation by the Delta State Government.
This development that was announced by the lead promoter, Mercury Maritime Concession Company (MMCC), marks a crucial milestone in the project’s journey.
During a press briefing in Apapa, Lagos, the Chairman of MMCC, Rear Admiral Okoja, shared the latest updates with newsmen.
He revealed that, alongside the state government’s revalidation, the company has been assured by the Federal Government that the pending revalidation of the earlier provisional approval is expected soon.
Earlier in June, MMCC had raised concerns about potential investment losses amounting to $27.29 billion due to delays in obtaining final approvals from both state and federal authorities. The delay threatened the involvement of EDIB International of Hong Kong, which had committed to financing the project.
The state government’s reaffirmation, communicated last week, includes the provision of 31,000 hectares of land in Gbaramatu Island/Omadino, Warri South-West Local Government Area. This land is pivotal for the project’s commencement and eventual success.
Okoja noted the project’s extensive scope, which spans multiple ministries, including Solid Minerals, Works, Marine and Blue Economy, and Power.
Addressing concerns raised by the Nigerian Port Authority (NPA) regarding potential monopolies and documentation, Okoja emphasized that MMCC is engaging at governmental and ministerial levels, backed by substantial maritime expertise.
A director at MMCC, Ausbet Udebu, detailed the project’s components, highlighting the development of a deep seaport, inland ports across seven states, and an intermodal transport system for cargo evacuation. The infrastructure will include 45 kilometers of coastal roads, a 150-kilometer rail line connecting the Warri-Ajaokuta-Itape railway, and a 600-kilometer marine network.
Furthermore, the project will feature significant power infrastructure, with a 2,000-megawatt independent power project, complemented by two 500-megawatt installations at inland ports and five 250-megawatt units at additional inland ports.
This revalidation marks a critical step towards the realization of the Escravos Deep Seaport Industrial Complex Project, promising significant economic benefits and infrastructural advancements for Delta State and beyond.
