NIMASA targets $1.1bn from 3 PPP projects

0
76

The Nigerian Maritime Administration and Safety Agency (NIMASA) will generate $$1,110,384,387 from three projects on behalf of the federal government.

The projects which were approved recently by the federal executive council are the Eastern Offshore Waste Reception Facility, Central/Western Offshore Waste Reception Facility and a Floating Dry Dock.

They are to be executed in NIMASA under the public private partnership (PPP) arrangement.

Acting spokesperson for the Infrastructure Concession Regulatory Commission (ICRC), Mrs. Manji Yarling said in a release that the projects were approved following the issuance of full business case certificate of compliance (FBC) by the PPP regulatory body the ICRC.

The statement quoted the director general of the ICRC, Mr. Michael Ohiani while issuing the FBCs for the offshore waste reception facilities (OWRF) projects to have said that the move demonstrates the federal government’s to the environmental wellbeing of coastal communities as well as offshore fishermen.

“The essence of the approvals by FEC for the OWRF is to put in place a standard facility for use in Nigeria international waters in compliance with the International Convention for the Prevention of Pollution from Ships (MARPOL) 1973/1978.

“The goal of the proposed partnership is to protect the offshore environment, provide a visible deterrent for offshore polluters from a surveillance point of view and reduce the current level of pollution to the benefit of offshore fishermen and coastal communities.

“The OWRF projects will essentially help keep the seas and oceans clean. Each facility when completed would be adequate to fully meet the needs of ships and other installations regularly making use of the facilities; contribute to the improvement of the marine environment; allow for the ultimate disposal discharge of wastes from ships and other installations in an environmentally friendly way,” he said

For the eastern OWRF the design, finance, build, operate, maintain and transfer (DFBOMT) PPP model will be adopted with XPO Marine Services Limited as the concessionaire for an initial period of 10 years.

“The projected total revenue from Eastern OWRF for the entire concession period due to Federal Government based on revenue sharing ratios is $$279,487,228.35.

“The projected total revenue for the entire concession period from the Central and Western zones due to Federal Government based on the revenue sharing ratios is $$765, 289, 988,” Ohiani stated.

The concessionaire for the Central and Western OWRF is African Circle Pollution Waste Management Limited and the concession period for 10 years.

Also approved by the council is a management contract to operate, maintain and transfer (OMT) the floating dry dock (FDD) of NIMASA. The FDD is for the repair of cabotage vessels.

The concessionaire, J. Marine Logistics Limited, is to manage the modular/floating dry dock for a 15-year period.

Total revenue accruing to NIMASA for the 15-year-concession period is $65,607,171 (N27, 226,975,965).

When fully implemented, the project is expected to create over 800 direct and indirect jobs.

Beyond revenue generation, the project is also expected to create jobs, develop capacity and provide maintenance facilities for ships and boats.

LEAVE A REPLY

Please enter your comment!
Please enter your name here