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Less than two weeks after the reception of operating licence by the core investor in the development of Maritime Africa Economic City, Badagry from the Nigeria Export Processing Zones Authority (NEPZA), the Project Director of the group, Mr. Patrick Bird, has revealed more manufacturing and services firms are still approaching the marketing department for spaces, but did not give their details.
According to him, the development is coming even as the economy is biting harder. He said there are more companies coming for fruitful discussions to seat their businesses on the proposed mega port/Free Trade Zone of Badagry.
It would be recalled that Maritime Africa Economic City received the licence for the Badagry project from the Managing Director of NEPZA, Mr. Gbenga Kuye two week ago.
Receiving it, Bird said “Today marks a tremendous milestone in the development of the Badagry project. With NEPZA, we intend to develop the Maritime Africa Economic City into one of the most successful special economic zones in Africa.
“The benefits of having this approval are enormous for our clients and despite the current downturn in the economy; we are still fielding a lot of interests from domestic and foreign companies wanting to set up in Badagry.”
Bird listed some of the benefits of the new FTZ to include various tax advantages; 100 per cent
Repatriation of profits and dividends; Immigration incentives; Round the clock operations; And fasttrack cargo clearance procedures.
According to the statement, the Maritime Africa Economic City will be developed on 1,100 hectares of land with over six kilometres of quay wall, including a container terminal, rollonrolloff terminal, general cargo terminals, oil service centre and refined products import terminals.
“It will also include a power plant, oil refinery, industrial park, warehousing and inland container depot functions as well,” it stated.
The zone is connected to Lagos through the LagosBadagry Expressway, which is currently being upgraded and expanded by the Lagos State Government as well as the Porto Novo Creek, allowing for the barging of cargo between the existing port system of Lagos and the new facility.
The government has also concluded plans to construct a rail line, which will connect the new FTZ for seamless transit of goods.
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