Port Harcourt Terminal B concession

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In September 2005 the government of Nigeria, through its Bureau of Public Enterprises (BPE), awarded a 20 year rehabilitate, lease and transfer concession for terminal B of the Harcourt port to private company BUA International Limited. The concessionaire pledged to pay leasing fees to the government amounting to some $12.36 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. In total, investments in infrastructure were expected to reach $33.79 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 September 2005 after a two stage competitive tender. BUA International Limited was judged to be the only bidder with a passing mark for the technical evaluation for the project. No information was publicly available on the ownership structure of the concessionaire, investments in facilities, or the terminal's capacity. None None