In an attempt to enhance service delivery, boost efficiency, modernise port development as well as relieve it of the burden of financing, among others, the federal government has finally signed an agreement to concession terminal ‘B’ of the Warri Old Port to Ocean and Cargo Terminal Services Limited.

On behalf of the government, the Bureau for Public Enterprises (BPE) signed the agreement after the concessionaire emerged the preferred bidder after submitting a technical and financial bid of $100.78 million.

A statement signed by Alex Okoh, BPE director general, with respect to the development on Tuesday, January 22, said the action followed an approval by the National Council on Privatisation (NCP).

“The NCP at its meeting held at its meeting held on 12 June 2018, approved the technical bid and the Finacial bid of $100,782,147.53 submitted by Ocean and Cargo Terminals Services Limited which emerged as the preferred bidder for the Terminal B Warri Old Port,” the statement read.

“Upon completion of the rehabilitation and reconstruction works, there was a need to concession the terminal to a private operator who would be responsible for the operation of the terminal and carrying out further development of its facilities in line with the Ports Concession Programme.

“Following the approval by the National Council on Privatisation (NCP), advertisements inviting Expressions of Interest (EOIs) from prospective concessionaires for the concession of the terminal were carried out by the Bureau.

“At the closing date for submission, 13 EOIs were received and subsequently evaluated. After the evaluation, seven firms achieved the minimum qualification mark and were prequalified for issuance of Requests for Proposals (RFP) and Information Memorandum to the subsisting 7 pre-qualified firms, physical due diligence and data room exercise, evaluation of the technical proposals and finally the financial bid opening.”