Mr. Chidi Izuwah, the Director-General, Infrastructure Concession Regulatory Commission (ICRC), made has presented the Full Business Case (FBC) Compliance Certificate of the Ibom Deep Water Port to the Minister of Transportation, Mr Rotimi Amaechi.
Izuwah said the Ibom port project involves the development of a Greenfield Deepsea Port and accompanying Free Trade Zone (FTZ) in Akwa Ibom. He noted that government is set for next level of the procurement process of the port through the Public Private Partnership (PPP
“The proposed Port and FTZ are part of the planned Ibom Industrial City initiative that will be established on a 14,400-hectare site donated by the Akwa Ibom State Government (AKSG) free of charge.
“The port project is planned to become a major national and regional economic gateway that will provide additional container handling capacity for the country.
“In addition to containers, the IDWP is expected to handle petroleum products, crude oil, natural gas, vehicles and bulk trade in natural resources,” he said.
Responding, Amaechi thanked ICRC for providing timely guidance throughout the development and procurement process of the project.
He added that the project was in line with the President Muhammadu Buhari’s desire to expand and further develop the nation’s transport sector in the overall interest of the economy.
The Bollore/Power China emerged the preferred bidder for IDWP following the transparent bidding process held earlier.
It added that conclusion of negotiations and due diligence were ongoing with the preferred bidder.
ICRC was established to regulate PPP activities in Nigeria to address physical infrastructure deficit which hampers economic development.