ENL Consortium signs investment deal with China’s Lianyungang Port Holding
ENL Consortium Nigeria Limited has signed an agreement with Lianyungang Port Holding Group Ltd, a Chinese port operator, to expand investment at the Lagos Port Complex Apapa (LPC) and boost trade between both countries.
ENL operates Terminals C and D at LPC and Lianyungang Port Holding provides terminal handling, modern logistics, port construction, and other services in China.
The agreement signing took place recently at the 6th China-Nigeria Logistics Line Supply Chain Platform Advanced Forum organised by Sinoma International Engineering Co., Ltd in Lianyungang, Jiangsu province, China, organised as part of activities to commemorate the 10th anniversary of China’s Belt and Road Initiative.
Speaking during the agreement signing ceremony, Mark Walsh, executive director of ENL Consortium, said it was pivotal to acknowledge the strides made in fostering international cooperation and enhancing the connectivity of global supply chains.
He said the Belt and Road initiative has not only bridged the infrastructural gap in the two great nations but also facilitated economic growth and mutual development.
Walsh listed the gains of port concession to include enhanced port infrastructure, improved operational efficiency, job creation, and increased revenue generation while the pains include initial resistance, regulatory hurdles, and security concerns, which taught us invaluable lessons.
He said ENL has been at the forefront of adopting innovative models in local transportation, refining port operations, and enhancing the warehousing system to solve prevailing challenges and streamline operations.
Lianyungang Port, one of the top 10 ports in China and among the 30 largest globally, boasts a cargo throughput of 210 million tons per year and a container throughput of 5 million TEU per year.
