Josepdam Port Services to acquire terminal equipment, expand operations with $55m
Josepdam Port Services (JPS) Nigeria Limited, a concessionaire in charge of Terminal A of the Tin-Can Island port, said on July 12 2017 in Lagos that it has concluded plans to invest over $55 million in the expansion of terminal infrastructure and acquisition of new cargo handling equipment.
It is expected that the new investment when completed will enable JPS to expand its annual cargo throughput to over 3.5 million metric tons. JPS is a leading handler of dry and liquid bulk cargoes in ports in Lagos, Nigeria’s economic capital.
“We are putting up more finance to develop the terminal in five years. And we are ready to do about $55 million investment on our terminal. Our development plan in the next five years is actually going to increase our capacity for storage on our terminal and increase our throughput by 3.5 million per annum,” said Simon Travers, managing director of JPS.
Travers, who disclosed this at a media event to unveil ‘the European quality awards,’ said that part of the development plan is to replace its present weighing bridge with two additional bridges. The European Quality Awards is an international award organised by European Committee and given to the company in recognition of its international progression in last few years.
“We have approval from the Nigerian Ports Authority (NPA) to build 12 silos on the terminal. Five will be used for breaking bulk while the rest will be dedicated to storing dry bulk cargoes. This is going to increase our storage capacity by150, 000 tons and our intention is to fill these silos three to four times a year. And our target is to grow our storage throughput within the next five or six years,” Travers said.
As part of the development plans, JPS said that the terminal operator is currently building new integrated curveyor and extractor system on the terminal. “The curveyor system and extractors will enable the terminal to discharge ship at the rate of 600 tons per hour against the facility that discharges ships in speed of between 300 and 350 tons per hour. This equipment is being manufactured in Switzerland, Sweden, and Spain to be brought into the country within the next 20 months.”
On the business activities of JPS terminal especially at this time of recession, the JPS boss said the terminal handled about 1.9 million metric tons of cargo in 2016 but their estimation is to handle over 2.2 million metric tons of cargo at the end of 2017.
“We had about 23 percent drop in cargo throughput in 2016 but in the first half of 2017; we have actually exceeded the throughput figure for 2015 and 2016 as well. We have made very tremendous improvement from what we had in 2016. Though, the throughput was down in 2016, but we have managed to encourage new customers to make use of our terminal,” he added.
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