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FG grants approval for $2.9bn Escravos seaport
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By Ediri Ejoh
The Federal Government has granted approval for the establishment of the Escravos Seaport Industrial Complex, ESIC, to Mercury Marine Concession Company, MMCC.
The proposed $2.9 billion project is majorly designed to boost economic/national development of Nigeria particularly, Delta State.
Chairman, Chief Executive of the firm, Rear-Admiral Andrew Okoji, who confirmed the approval, weekend, said the Federal Ministry of Transport has directed the firm to pay N1 billion, apparently to express its interest.
He said: ‘‘It is going to be a lease for about 50 years, the investment for the port is coming from abroad.