CMA CGM unit buying stake in Nigeria terminal

   CMA Terminals, a wholly-owned subsidiary of the CMA CGM Group, will acquire a 25-percent share of  ICTSI’s Lekki International Container Terminal Services LFTZ Enterprise (LICTSLE) in Nigeria, 37 miles east of Lagos.
   Philippines-based ICTSI signed a sub concession agreement in 2012 giving it the right to develop and operate the terminal for 21 years.
   The terminal serves both the local market and will act as a regional transhipment hub for West Africa.
   The terminal has a straight-line quay of 1,200 meters, 14 post-panamax cranes and a yard area of 66 hectares. The terminal is expected to be fully operational in 2017 and have a capacity of 2.5 million TEU. The terminal is designed to allow further capacity growth.