By Faridat Salifu
The Federal Government has secured a major partnership with Japanese firm, EDIB International Limited, for the development of the $27.29 billion Escravos Seaport Industrial Complex (ESIC) project.
Situated in the Escravos region of Delta State, the project aims to boost marine and blue economy initiatives through a Joint Venture Partnership (JVP) with Mercury Maritime Concession Company Limited (MMCC).
EDIB International Limited, represented by Chief Kwame Springer, expressed commitment to providing financial support for the ESIC project.
In exchange, they are requesting government security over their investment, which includes a 50-year concession deal to Build, Own, Operate and Transfer (BOOT) the ESIC deep seaport.
To ensure the safety of their investment, they are seeking a 99-year concession term and written confirmation of the Free Trade Zone (FTZ) status for the project.
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MMCC’s Rear Admiral Andrew Omaolo .S. Okoja (rtd) has highlighted the significant milestones achieved, including provisional approval from the Federal Ministry of Transportation and the lease approval from the Delta State Government.
The ESIC project aims to transform 31,000 hectares of land into a multifaceted industrial complex, including a deep seaport, crude oil refinery, gas complex, free trade zone, independent power plant, airport, and nature conservation park.
Moreover, the ESIC deep seaport is positioned to serve as a gateway for multi-modal transportation connectivity, linking hinterland destinations in Nigeria and beyond.
The project’s potential to attract foreign direct investment (FDI) and stimulate economic growth in the participating states — Delta, Edo, Bayelsa, Imo, Anambra, Kogi, and Niger, along with Abuja — has been emphasized.
In addition, the partnership aims to capitalize on the strategic location of the ESIC deep seaport, potentially connecting with the River Niger Canal project in collaboration with the Suez Canal Authority of Egypt.
This initiative is expected to open a 600-kilometer canal from the ESIC seaport to Baro in Niger State, enhancing transportation and trade capabilities.
Overall, the development of the ESIC project represents a significant opportunity for regional economic transformation and promises to enhance trade, commerce, and industry, ultimately uplifting the economies of the beneficiary states to an international standard.
