China Habour Engineering Company (CHEC) subsidiary China Habour Engineering LFTZ Enterprise (CHELE) has concluded the construction of the $1.5bn Lekki Deep Sea Port in West Africa.
CHELE is the engineering, procurement and construction (EPC) contractor for the Lekki Deep Sea Port, which will be managed by CMA-CGM subsidiary Lekki Free Port Terminal (LFPT).
The total value of the EPC contract for the project was $581m.
Construction of the port started on 15 June 2020 and was completed this year on 24 October.
The port is anticipated to generate $361bn revenue during the concession period granted by the Nigerian Government and create around 170,000 direct and indirect jobs in the region.
It is also expected to generate more than $201bn in revenue for both Lagos State and the federal government.
Lekki Port directors board chairman Biodun Dabiri said: “We are pleased to celebrate the completion of construction of the port and the effective handover of the facilities by Lekki Port from the EPC Contractor, CHELE, a subsidiary of CHEC.”
Lekki Port LFTZ Enterprise is the special purpose vehicle (SPV) that was awarded the concession agreement to develop and operate the Lekki Deep Sea Port by the Nigerian Ports Authority.
It was awarded the concession for 45 years on a build, own, operate and transfer (BOOT) basis.
Lekki Port is said to have a total of three container berths, one dry bulk berth and three liquid berths.