Federal Government Privatizes Warri Port Terminal For N105 Billion

The Bureau for Public Enterprises (BPE) has signed an agreement to concession terminal ‘B’ of the Warri Old Port to Ocean and Cargo Terminal Services Limited.

According to a statement signed by Alex Okoh, BPE director general on Tuesday, the concessionaire emerged the preferred bidder after submitting a technical and financial bid of $100.78 million.

“The NCP at its meeting held at its meeting held on 12 June 2018, approved the technical bid and the Finacial bid of $100,782,147.53 submitted by Ocean and Cargo Terminals Services Limited which emerged as the preferred bidder for the Terminal B Warri Old Port,” the statement read.

“Upon completion of the rehabilitation and reconstruction works, there was a need to concession the terminal to a private operator who would be responsible for the operation of the terminal and carrying out further development of its facilities in line with the Ports Concession Programme.

“Following the approval by the National Council on Privatisation (NCP), advertisements inviting Expressions of Interest (EOIs) from prospective concessionaires for the concession of the terminal were carried out by the Bureau.

“At the closing date for submission, 13 EOIs were received and subsequently evaluated. After the evaluation, seven firms achieved the minimum qualification mark and were prequalified for issuance of Requests for Proposals (RFP) and Information Memorandum.”

Speaking on the objective of the concession, Okoh said it will increase the Nigerian port efficiency, service delivery, reduction of cost of shipping and clearing of goods at the port across the country.

He urged the concessionaire to focus on the objectives as it performs the business, adding that as the federal government expects adherence to the terms of the concession agreements.

Source: Mediahelm.com