Nigeria’s $1.675-billion Lekki deep sea port development has received $221 million in equity funding from China Harbour Engineering Co., the Chinese-government owned marine contractor that had earlier won the engineering, procurement and construction contract for the project that is expected to create the deepest port in sub-Saharan Africa.
Lekki Port LFTZ Enterprise Ltd., a joint venture of Singapore-based Tolaram Group (75%), Nigeria’s federal ports agency (5%); and the Lagos state government (20%), said in a statement that the Chinese funding “will greatly contribute to fast tracking the timely delivery of the project and bring about economic prosperity to Nigeria as a whole.”