Indegenous firm concludes study on Ocean Terminal at Ibeno, A/Ibom

Port Notel, an indegenous port development firm on Monday said its proposed ocean terminal project in the Atlantic Ocean off, Ibeno coastline is technically and economically feasible.

Mr Victor Akpanika, Managing Director, Port Notel Ltd  (PNL) told newsmen in Yenagoa that the firm had succesfully concluded a report it commisioned in 2014.

He explained that following the submission of the reports, the process of field development would take off as soon as all regulatory compliance formalities and approvals are got from relevant government agencies.





"The preliminary technical feasibility studies and market investigation reports that started in May 2014  on Port Notel Ocean Terminal Project has been completed.

"The studies were done by CDR Engineering Consultancy (Nigeria) Limited in partnership with Port Consultants Rotterdam B.V. and CDR International, Netherlands and submitted to the Board of Port Notel Limited in Port Harcourt.

"Consequently, a law firm, has been commissioned to undertake detailed legal and regulatory audit of the project with a view to uncovering all applicable laws and authorizations that are required for speedy commencement of technical field and site development activities," Akpanika said.




According to him, Port Notel is designed to be Africa’s premier offshore regional port with a minimum draught of 17 meters, on an artificial island, off the Atlantic Coast of Ibeno Local Government Area of Akwa Ibom.

He said that the facility is expected todeliver efficient, safe and secure services to the maritime community, with the mission to unlock Nigeria’s maritime potentials through a Public-Private-Partnership.

"It is expected to adopt a phased development, aimed at reducing initial project cost, with ample flexibility for containers, steel products, dry bulk, liquid bulk cargoes including liquified natural gas, eneral cargo, RoRo and deep off shore logistics support base amongst others.

"There are significant growing interest from Europe, Middle East, Asia and United States, by international development funding partners, foreign institutional investors and global terminal Operators seeking to partner with PNL for the port development," Akpanika said.