PTML Announces $50 Million Port Expansion as Oyetola Reaffirms Maritime Hub Vision
PTML Announces $50 Million Port Expansion as Oyetola Reaffirms Maritime Hub Vision
Port and Terminal Multiservices Limited (PTML), a member of the Grimaldi Group, has unveiled plans to invest $50 million in expanding its terminal at the Tin Can Island Port Complex in Lagos.
Managing Director Ascanio Russo disclosed the initiative during a visit to the Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, in Abuja. The investment will focus on expanding berthing capacity and acquiring state-of-the-art port equipment, positioning Nigeria to handle the next generation of Container/Roll-on Roll-off (Con-Ro) vessels.
Russo emphasized that the project aligns with the Federal Government’s call for greater private-sector participation in port modernization. He noted that the expansion will enable Lagos to receive the world’s largest Con-Ro ships directly, enhance operational efficiency and cargo throughput, create jobs during construction and operations, and enhance increased port activity.
“The Grimaldi Group remains deeply committed to Nigeria and firmly believes in its potential as the leading maritime and logistics gateway in West and Central Africa,” Russo said.
Welcoming the investment, Minister Oyetola described it as a vote of confidence in ongoing reforms. He reiterated the government’s determination to transform Nigerian ports into modern, efficient, and globally competitive gateways, citing ongoing efforts in digitalization, infrastructure upgrades, and ease-of-doing-business reforms.
“This investment is a clear demonstration that our reforms are yielding results,” Oyetola stated. “We are determined to position Nigeria as the maritime hub of West and Central Africa.”
