Nigeria President Umaru Musa Yar'Adua commissioned the modernized Apapa Container Terminal in the port of Lagos, part of the APM Terminals Global Terminal Network on June 19.
APM said that since assuming control of the facility a year ago, it has invested more than $75 million in terminal modernization and expansion, including the delivery last month of four reconditioned Panamax gantry cranes, doubling the facility's terminal handling capacity.
ACT handled 450,000 TEUs in 2007, with volume projected to grow 20 percent in 2008, as vessel calls have already grown and monthly container traffic has nearly doubled from 22,000 TEUs to 42,000 TEUs.
APM said improved productivity has enabled APM Terminals Apapa to eliminate container vessel waiting times, resulting in shipping lines ending congestion surcharges. The savings to the Nigerian economy has amounted to $200 million per year since APM Terminals assumed operational control of the facility. APM Terminals also operates the West Africa Container Terminal at the Nigerian Port of Onne.
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