Port and Terminal Multiservices Ltd. plans to invest $50 million to expand its terminal in Lagos.
The investment will increase berthing capacity and fund the acquisition of new cargo-handling equipment at the company’s terminal within the Tin Can Island Port complex, said Ascanio Russo, managing director during a meeting with Adegboyega Oyetola, minister of Marine and Blue Economy in Abuja on Tuesday.
The expansion is designed to allow the terminal to receive a new generation of larger container roll-on roll-off vessels directly in Lagos, including some of the biggest ships operating in the segment globally, Russo said.
“The maritime industry is evolving rapidly, with larger and more efficient vessels becoming the standard for international trade,” Russo said. “Through this expansion, PTML will be fully equipped to accommodate these next-generation Con-Ro vessels.”
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