13 April
Project proposal received
Technical Proposal
Transport
Plateau
Implementation
Nigerian Shippers' Council
04-04-2018 19:17:36
To ease the difficulties and problems faced by the shippers of goods to and from Nigeria, provide quick and safe access to port facilities from inland transport networks, decongest the sea ports by increasing storage facilities, facilitate door-to-door delivery of cargo to and from importers and exporters, and facilitate transport development through the hinterlands of Nigeria.
Information will be published as soon as it is available.
Providing quick and safe access to port facilities from inland transport networks.
BOOT: It is a greenfield project under a private finance initiative.
Information will be published as soon as it is available.
Information will be published as soon as it is available.
13 April
Technical Proposal
16 May
Contract signed
16 May
Contract expires
Redacted PPP Contract Attached
Not Available/Legacy Contract
Not Available/Legacy Contract
Not Available/Legacy Contract
Type of risk | Description | Allocation | Mitigation |
---|---|---|---|
Pre-construction risk | Risk associated with project preparation and designs | Public and Private Sectors | |
Construction / Completion | Risk associated with project scope and delivery | Private Sector | |
Cost risk | Cost overrun, scope adjustments and changes | Private Sector | |
Refinancing risk | Lenders' defaults | Private Sector | |
Risk related to change in law, taxes, scope, technical standards, regulatory framework | Risk related to change in law, taxes, technical standards, regulatory framework | Public Sector | |
Exchange rate risk | Exchange rate | Private Sector | |
Operating risk | Risks relating to operation | Private Sector | |
Permits/Approvals Risk | Regulatory Risks | Public Sector |
Guarantees |
Nill |
Grants |
Nill |
Service payments |
Nill |
Land Leases, Asset Transfers |
Nill |
Other support |
Nill |
Revenue share |
Royalty: Upon commencemt of the start date, the operatior shall pay 10% of annual turnover or the Nigerian currency equivalent of an initial $10 per TEU and 10% of the total charge levied on non-continerised cargo handled by the Depot, to the grantor as royalty on quarterly basis. |
Yet to commence operations
Yet to commence operations
Yet to commence operations
Yet to commence operations
Yet to commence operations
Events of Default | Brief description | Termination Payments | Documents |
---|---|---|---|
Default in financial obligation | Operator fails to pay the operational fee as required under article 2.5 | ||
Abandonment of construction | The operator or the Operations and Maintenance Contractor abandons the operation of the Depot for a period of seven consecutive days without the prior written consent of the grantor | ||
Default on maintenance bond | The operator fails to provide the the maintenance Bond as required under Article 9.5 | ||
Insolvency of the Concessionaire | The operator goes into liquidation or becomes insolvent under the laws of the Federal Republic of Nigeria | ||
Financing default | The lenders declare a default under any Financing Agreements and commence the exercise of heir remedies thereunder. |
Events of Default | Brief description of events of default | Termination Payments | Documents |
---|---|---|---|
Misrepresentation and warranty | Any information provided by operator whicj is materially incorrect and capable of affecting the grantor's ability to perform its obligations under the agreement | ||
Material breach of agreement | Any representation and warranty made by the Operator in Article 19.1 proves to have been materially incorrect when made, such that the Operator's abiity to perform obligations under this agreement is materially adversely affected |