The Federal Government is set to move to the next level of the procurement process of the Ibom Deep Water Port (IDWP) through the Public Private Partnership (PPP).
Mr Chidi Izuwah, the Director-General, Infrastructure Concession Regulatory Commission (ICRC), made this known while presenting the Full Business Case (FBC) Compliance Certificate to the Minister of Transportation, Mr Rotimi Amaechi.
Izuwah said in a statement on Tuesday in Abuja that the IDWP project involves the development of a Greenfield Deepsea Port and accompanying Free Trade Zone (FTZ) in Akwa Ibom.
“The IDWP project is planned to become a major national and regional economic gateway that will provide additional container handling capacity for the country.
“In addition to containers, the IDWP is expected to handle petroleum products, crude oil, natural gas, vehicles and bulk trade in natural resources,” he said.
Responding, Amaechi thanked ICRC for providing timely guidance throughout the development and procurement process of the project.
He added that the project was in line with the President Muhammadu Buhari’s desire to expand and further develop the nation’s transport sector in the overall interest of the economy.
It added that conclusion of negotiations and due diligence were ongoing with the preferred bidder.