• Short Summary

    The World Bank has lent $55 million (GBP 20 million sterling) to the Nigerian Ports Authority to help finance an $83.8 million (GBP 30 million sterling) expansion project at the port of Apapa.

  • Description

    The World Bank has lent $55 million (GBP 20 million sterling) to the Nigerian Ports Authority to help finance an $83.8 million (GBP 30 million sterling) expansion project at the port of Apapa.

    Apapa at Lagos is one of eight ports in Nigeria which together have a potential handling capacity of 5.2 million tons. They serve the 68 million people of Nigeria as well as handling some transit cargo for Niger and Chad.

    The aim of the new project at Apapa is to provide more capacity at Lagos. It includes the construction of five berths, transit sheds and warehouses and ancillary buildings. Specialised container handling equipment will be provided.

    The project will also include the dredging of a channel and a turning basin in the harbour. As well, there'll be expert services for management improvement.

    The scheme will enable Lagos to meet the expected demand of 5.4 million tons per annum in 1980.

    Seven financial institutions in Japan, Switzerland and the United States are participating in the loan, which is being offered over 25 years.

  • Tags

  • Data

    Film ID:
    VLVA9FSOKU5N1HRHQ9CUFPHE1Z4XS
    Media URN:
    VLVA9FSOKU5N1HRHQ9CUFPHE1Z4XS
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    28/07/1973
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:40:00
    Time in/Out:
    /
    Canister:
    N/A

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