Grimaldi building Lagos terminal
Naples-based Grimaldi Group, said Friday it is building a new terminal in the Tin Can Island area of Lagos, to help double its annual port calls at the Nigerian port from 50 to more than 100.
In February, Grimaldi signed a 25-year agreement with the Nigerian government to build and operate the terminal, which upon completion will have a surface area of more than 170,000 square meters and a 250-meter-long quay.
Construction at the terminal has already started and Grimaldi expects to have a berth available for its vessels from the start of the second quarter next year. The terminal is scheduled to be completed by mid 2006.
Grimaldi said its investment in the terminal amounts to more than $60 million.