Port Notel Ocean Terminal

Opportunity Snapshot

  • Country: Nigeria Nigeria
  • Industry: Real Estate
  • Stage: Seed
  • Investment size: $500,000 / min. $300,000

Investment Opportunity

Port Notel, Ocean Terminal Project is a Private Public Partnership (PPP) initiative, whose main objective is to offer an efficient, reliable and holistic platform to move goods and services as quickly as possible, in a secured and cost effective manner within the Gulf of Guinea. Assistance is needed to fund Market/Technical Feasibility Studies.

Port Notel Ocean Terminal is a Service Port Facility, an ultra-modern Mega Deep Sea Port to be established on an artificial sand-filled island of about 12 square km located mid-way between Port Harcourt and Limbe in Cameroon, 14 km off the Atlantic Coast, near Ntafre Village in Ibeno LGA of Akwa-Ibom State, with a connecting rail/road bridge, using bored and sheet piles re-enforcement.

It is conceived as a multi-purpose Mega Deep Specialty Port, fully equipped to service the logistics requirement of the off-shore oil and gas companies operating in the rich Gulf of Guinea region, with a container terminal, bunkering services, a backbone for commercial fishing, shipping/repairs and maintenance yard, tourist, recreational industry, etc. It will donate a portion of the island to serve as Security Base Station for the Nigerian Security Agencies to effectively patrol and monitor the numerous off-shore oil & gas Installations and effectively defend the Gulf of Guinea.

The main objective of the project is to offer efficient, reliable and holistic platform to moving goods and services as quickly as possible in an environmentally friendly, secured and as cost effectively as possible within and outside the Gulf of Guinea Region.

To be the flagship of all energy hubs in Africa

To expand West and Central Africa 's maritime space, effectively support the Oil and Gas industry and progressively grow the overall economy via the operation of a mega deep sea port through partnerships and alliances with the Government of Nigeria, strategic international investors and shareholders.

Milestone Achievements:
• Listed amongst the prioritized prospective Deep Sea Port Projects in Nigeria’s Ports Master Plan
• Successfully negotiated the acquisition of over 250 Hectares parcel of land from Ntafre Community for the on-shore and entry point location of the port
• Completed preliminary survey with exact co-ordinates of the offshore location of the Ocean terminal
• Obtained Preliminary Engineering Concept Design
• Held interactive session with representatives of NNPC Commercial and Investment Directorate - New Businesses Unit, Abuja on the viability of the Port project
• Obtained a ‘No objection’ letter from Nigeran Ports Authority for the project
• Signed contract with Royal Haskoning Maritime Group, Netherlands, to carry out Market Viability Study for the Port project.
• Engaged the Services of Fugro Nigeria Limited, Port – Harcourt, to prepare Preliminary Environmental Impact Assessment Report for the Port project
• Commissioned AvantGuard Security Solution, UK/Lagos, to prepare, apply and obtain ISPS Codes and necessary Security Clearance and approvals for the project.

a. Securing Grant and Financial Assistance to fund Market/Technical Feasibility Studies
b. Platform to promote project to International Venture Capitalist and Private/Corporate Investors and Financial Institutions
c. Engaging the services of Competent and qualified Professionals, reputable US based service providers, especially port managers/operators, developers, consultants, etc.

Competitive Advantage

1) The only Ocean terminal in the Gulf of Guinea to address the limitations of river ports;
2) Provide bunkering services in West/Central Africa;
3) Ship maintenance/ repairs;
4) Operational base for regional security.

Rationale for the deal

Strategic infrastructural requirement for the region.

Use of financing

One-off payment for market/technical studies

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