Calabar New Port, Terminal B

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In May 2006 the government of Nigeria, through its Bureau of Public Enterprises (BPE), awarded a 25 year rehabilitate, lease and transfer concession for terminal A of the Calabar port to private operator Ecomarine Ltd. The concessionaire pledged to pay leasing fees to the government amounting to some $30.03 million in net present value. Additionally, the concessionaire was expected to make all investments on the terminal’s berths (except for the quay wall, which remained the government’s responsibility), stacking yard, equipment, as well as improved security and fencing systems. The net present value of investments in infrastructure were estimated at $23.79 million. The project was part of a wider plan started in 2004 - 2005 to attract private participation in the Nigerian port sector. The contract was awarded in May 2006 after a competitive bidding process. The bids were ranked using a highest fee paid to the government criterion. Ecomarine came in with the highest bid, while Bua International Limited offered $2.33 million, and the Calabar Terminal limited offered $3.1 million. No further information was publicly available on the ownership structure of the concessionaire, investments in facilities, or the terminal's capacity. None None