The Mediterranean Shipping Company (MSC) Group has secured a 45-year concession with Nigerdock to develop a new container terminal at Snake Island Port (SIP) in Lagos.
The group has also finalised an Engineering, Procurement, and Construction (EPC) contract with ITB Nigeria Ltd. and DEME Group to deliver the project.
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The investment forms part of MSC Group’s broader commitment to Nigeria’s infrastructure and logistics sector, totalling over USD 1 billion.
The terminal is designed with a 910-meter quay capable of handling ship-to-shore (STS) cranes and mobile harbour cranes (MHC) for both deep-sea vessels and barges.
Initial dredging will reach -16.5 meters Chart Datum (CD), matching the existing navigation channel depth. A 30-hectare yard is planned with room for expansion and hybrid rubber-tyred gantries (RTG).
The terminal design is reportedly scalable, allowing a final depth of -18 meters CD to accommodate larger vessels.
Diego Aponte, President of MSC Group, said: “Completing this key phase in the development of Snake Island Container Terminal with Nigerdock and our trusted partners demonstrates MSC Group’s commitment to providing excellent service to our customers in Nigeria and throughout Africa.
“The new terminal will open up opportunities, enhance efficiency, and elevate Snake Island Port as a major global shipping centre. Together with our Group’s other long-term investments in Nigeria, it will generate many local jobs and significantly increase economic revenue and resilience.”