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BPE concessions Old Warri Port for $100.78m

Published by The Nation on Wed, 23 Jan 2019


The Bureau of Public Enterprises (BPE) yesterday signed an agreement for the concessioning of Terminal B Warri Old Port with Ocean and Cargo Terminal Services that won the technical and financial bid with $100,782,147.53.In his address at the ceremony in Abuja, the its Director-General, Alex Okoh, recalled that the National Council on Privatisation (NCP) on June 12, 2018, approved the firms bid which emerged the preferred one for the terminal.At the coming of the current government, the council at its meeting of 22nd and 23rd August, 2017, approved the continuation of the bidding process which included issuance of Request for Expression Proposals (REFs) and Information Memorandum to the subsisting seven prequalified firms, physical due diligence and data room exercise, evaluation of the financial proposals and finally the financial bid opening, he said.According to him, the objective of the Federal Government in port concession is to increase efficiency in the nations ports, improve service delivery, modernise port development, reduce the cost and clearing of goods at the ports and relieve the government of the burden of financing the sector.The concessionaire, he said, is expected to focus on the objectives as it performs the business.He told the firm that government expects nothing less than strict adherence to the terms of concession agreement from the concessionaire.minals to private operators.In fact, the concession of the Sea Ports, which included the construction of a new quay wall and apron equipped with requisite facilities for berthing vessels, making it one of the most modern port terminals in the country at the time.Upon completion of the rehabilitated and reconstruction works, there was a need to concession the terminal to a private operator who would be responsible for the operation of the terminal and carrying out further development of its facilities in line with the Ports Concession Programme.Following the approval by the NCP, advertisements inviting Expression of Interest (EOI) from prospective concessionaires for the terminal were placed in selected National Dailies on 23rd of June, 2014.At the closing date for submission, 13 EOIs were received and subsequently evaluated. After the evaluation, seven firms achieved the minimum qualification mark and were prequalified for issuance of Request for Proposals (RFP) and Information Memorandum. Unfortunately , due to certain challenges, the issuance of the RFPs was delayed for about two years.
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