Hong Kong-based EDIB International Limited is committed to injecting $27.29 billion into developing the Escravos Seaport Industrial Complex (ESIC) project in Warri, Delta State, Nigeria. The project on Gbaramatu Island/Omadino in Warri South-West LGA will be executed through a joint venture partnership (JVP) with the Nigerian firm Mercury Maritime Concession Company Limited (MMCC).
Chief Kwame Springer, Chairman of EDIB International Ltd, stated that, through their consultancy arm, Blue Dot Wealth Limited, they seek government security over the $27.29 billion funding for the ESIC project. The goal is to establish a Joint Venture Partnership with MMCC.
To facilitate the investment, the Federal Government of Nigeria will ensure the return of the financier’s $27.29 billion with profit. The proposed concession deal term for the ESIC project is set to be extended to 99 years to secure substantial funding from EDIB International Ltd.
Rear Admiral Andrew Omaolo S. Okoja (Rtd), Chairman of Mercury Maritime Concession Company Limited (MMCC), revealed that EDIB International’s decision to finance the ESIC project stems from the provisional approval granted by the Federal Ministry of Transportation (FMT) to MMCC in November 2020. Additionally, the reviewed confirmation letter from the FMT in August 2023 has further solidified the project’s development.
This substantial investment from EDIB International is poised to significantly contribute to the realization and expansion of the Escravos Seaport Industrial Complex, marking a noteworthy development for the economic landscape in Delta State, Nigeria.
