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NPA, APM Capital seal fresh deal aimed at extending Barges to Epe

As part of its efforts in finding lasting solution to the Apapa gridlock problems, the Management of the Nigerian Ports Authority (NPA) Wednesday, signed a Memorandum of Understanding (MOU) with APM Capital to extend the use of Barges to evacuate Containers from the Ports beyond Ikorodu to Epe.

She was however, quick to recall the fact that NPA had made several efforts including contributing ₦1.8billion to rehabilitate the road at a time as well also coming up with Call Up System, which would soon be upgraded to be electronically.

While stressing that NPA would continue to consult with stakeholders across all levels, since the provision of infrastructure is crucial for sustainable ports operations, Usman further assured that NPAwill build on the synergy that exist with stakeholders and also commended Ministers of Transportation, the Board of Directors of NPA, and the management of APM Capital.

Responding, the Senior Investment Advisor of APM Capital, Fleming Dalgaard assured on the construction of a Jetty and Truck Park to facilitate the movement of Cargo with barges from the port.

The company further averred that they will provide technical Capital, Competence experience, financial capacity and other required resources.

Dalgaard commended openness of the management of NPA adding that such Transparency and efficiency were part of the quality that excite them to come forward for the signing of the MOU.

Key provisions of the new MoU include; That the NPA in realization of the fact that the provision of infrastructure is crucial for sustainable operation of ports has continued to pursue a programme of infrastructural investments; That the NPA and APMC entered discussions and have agreed to find a lasting solution to the traffic situation in and around the ports, there is a need to provide the level of required infrastructure; That APMC has indicated their interest, technical capacity, competence, experience, financial capacity and other required resources to execute or cause the project required resources to execute or cause the project required for the attainment of item 2 above; and that tThe project that are currently being contemplated include the construction of a jetty and truck park to facilitate the movement of cargo by barge from the ports.

Besides, it was agreed that APMC understands that some associates investments like construction of truck holding bays maybe required to support the option in item 4 above.

Additional understanding included that APMC intends to commit financial and human resources to further explore these solutions even though the exact nature of infrastructure to be provided may differ from the option currently being envisage in the course of further studies and time spent on the project.

Present on the side of the Management of NPA include GM Board Secretary/Legal services, Eniola Williams and General Manager Public Private Partnership, Mr Usoro Usoro and on the APM Capital side are APMC Advisor, Amina Oyagbola and Senior Associate, RotimiTewe.