A.P. Moeller-Maersk A/S, owner of the world’s largest shipping container line, says contracts to help build and upgrade ports in Badagry, Lagos, Nigeria and Kenya may require an investment of about $2 billion as the Danish company expands its African operations.
The company’s senior vice president for Africa, Lars Reno Jakobsen, said Maersk is awaiting a final sign-off on the contract, and that “once it’s been finalized, could be more than $2 billion in terms of investment,” he said in an interview at the World Economic Forum in Cape Town on Friday.
“Hopefully we can start sometime this year. It will provide capacity, not only for containers, but also for oil, break-bulk and offshore.”
Maersk employs almost 10,000 people in more than 40 African nations and generates about 10 per cent of its sales in and around the continent.
Besides its shipping business, the Copenhagen-based company supplies oil- and gas-related services. The company’s APM Terminals unit operates 10 West African ports. “We are actively looking in East Africa for opportunities,” Jakobsen said.
“There is an ongoing tender process for the port of Mombasa, where APM Terminals has shown interest” in operating two new berths in the Kenyan city.
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