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Publish Date : 22-Jun-2016

Mr. Eric Akpo, the Special Adviser to the Cross River State Government on Technical Matters, on Friday has disclosed that the estimated outlay for the planned deep seaport in the Nigerian State has been set at $500m to $800m.

Mr. Akpo has further said that the proposed deep seaport project will be developed with financial assistance involving investors.

According to him, several investors have already expressed their keenness to start the project.

He has made these revelations in Calabar after making a range of presentations before the Federal Government delegation on the Project Steering Committee and Project Development Committee, headed by the Director for Maritime Services in the Federal Transportation Ministry Mr. Sani Galadanchi.

Before this, the Cross River Seaport Authority Chairman Senator Florence Ita-Giwa has visited the planned location of the deep seaport with the Federal Government team by a boat cruise via the Calabar waterways.

Speaking to the media, Mr. Akpo has disclosed that more than 10 overseas investors have uttered their willingness to initiate work on the planned deep seaport. He has further said that another set of 12 investors is also keen to participate in the establishment of the planned 260-kilometre superhighway to be used as an evacuation corridor for the port.

He stated, For now, we are at the level of expression of interest and we have expressions of interest from about 10 companies for the seaport and 12 companies for the superhighway.

Because of the procurement law, we are still going about selecting one of the companies that have expressed interest, but the process is on and I cannot mention a particular company. The deep seaport is projected to cost between $500m and $800m.

The governor had promised the people of Cross River State that these projects are not going to take any money from the state account, that it was going to be 100 per cent funded by Public/Private Partnership. The state will only be expected to provide land for the seaport and corridor for the super highway.

On her part, Ita-Giwa has stressed that the deep seaport, once operational, will become an eastern maritime gateway for Nigeria. She has further stated that the state infrastructure fund, which is planned to catalyse the project development, has been signed into law as well.

The Commissioner for Works of the Cross River State Mr. Dane Osim-Asu has revealed that the preliminary procedures and measures crucial to accomplish the project are in the formation phase as well.

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