Global shipping giant Mediterranean Shipping Company (MSC) has signed a landmark 45-year sub-concession agreement with Nigerdock to develop and operate a major container terminal at Snake Island Port, in a move expected to significantly boost Nigeria’s maritime logistics capacity and attract substantial foreign direct investment.
Under the agreement, MSC will develop, operate and maintain an exclusive 30-hectare container terminal within the port facility. The new terminal, scheduled for completion in 2028, will feature a 910-metre quay, two ship berths, three barge berths, and six Ship-to-Shore (STS) cranes, with water depth reaching up to 18 metres to accommodate large modern vessels.
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Industry stakeholders say the project represents one of the most significant private investments in Nigeria’s port infrastructure in recent years and could further position Lagos as a key maritime hub in West Africa.
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