The Lekki deep seaport project has received a major boost as it recently received 1.5 billion dollars in funding. The project which is jointly financed by the Lagos state government, private investors and a consortium of banks which include: African Development Bank (AfDB), African Finance Corporation (AFC), European Investment Bank (EIB), Standard Chartered Bank , Rand Merchant Bank (RMB) and Standard Bank .
The seaport project will begin in April and be handled by China Harbour Engineering Company (CHEC).
The proposed Lekki Deep sea port
The Federal government holds 8.5 per cent equity in the venture, Lagos state government 20 per cent and Tolarams group 61.5 per cent equity.
The Lekki seaport is due for completion in 2018 and is expected to generate over 163,000 jobs upon completion. This is coming as other heavy industry and real estate developmental projects like the Eko atlantic city are springing up within the Lagos metropolis.
Our mega city is gradually emerging.
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