Bua's Group is investing 85 million US dollars to expand its terminal at Rivers Port Complex, Port Harcourt, a move the Nigerian Ports Authority says is expected to increase cargo traffic at the port by 14 per cent.
The 85-million-dollar expansion will add 600 metres of quay length, enabling the terminal to accommodate larger vessels and support BUA's target of importing more than two million tonnes of raw materials annually for its growing manufacturing operations.
Abdul Samad Rabiu, Chairman of the Bua Group made this disclosure on Thursday during an official visit to the Nigerian Ports Authority.
Welcoming the investment, Managing Director of the Nigerian Ports Authority, Dr Abubakar Dantsoho, said stronger collaboration between government and the private sector remains critical to building smarter, stronger and more competitive ports.
He said the project supports the Authority's port modernisation agenda and the Federal Government's strategy to unlock the commercial potential of Nigeria's Eastern ports. Construction is expected to be completed next year, further strengthening Rivers Port's position in Nigeria's maritime logistics network.
