APM Terminals invest $192m in Nigerian facility
APM Terminals, Nigeria's biggest terminal operator, has invested over US$192 million over the last four years in upgrading facilities in the Apapa port terminal, AllAfrica reported.
The investment covers the acquisition/installation of IT infrastructure, training in handling the newly acquired modern cargo handling equipment, and the construction of modern facility.
A further $70 million has been earmarked for investment at the terminal in the second phase of development.
So far, government has realised over $159 million from the operations between 2006 and 2009.
This amount is exclusive of the commencement fees and throughput fees paid by the company into the coffers of the Federal Government.
According to the Managing Director of APM Terminals Apapa, Martin Dirks, $116.5 million has been paid by his organisation to the Federal Government as lease fees while $3.8 million has been paid as company income tax.
With 29 hectares of fully operational yard space, a total berth length of 1005 metres and four berths, Apapa Container Terminal is a multi-user facility.
The investment covers the acquisition/installation of IT infrastructure, training in handling the newly acquired modern cargo handling equipment, and the construction of modern facility.
A further $70 million has been earmarked for investment at the terminal in the second phase of development.
So far, government has realised over $159 million from the operations between 2006 and 2009.
This amount is exclusive of the commencement fees and throughput fees paid by the company into the coffers of the Federal Government.
According to the Managing Director of APM Terminals Apapa, Martin Dirks, $116.5 million has been paid by his organisation to the Federal Government as lease fees while $3.8 million has been paid as company income tax.
With 29 hectares of fully operational yard space, a total berth length of 1005 metres and four berths, Apapa Container Terminal is a multi-user facility.