APM Terminals Apapa invests US$80m in facility upgrade

NIGERIA – AP Moller Terminals, a leading terminal operator, has made an additional investment of US$80million (N33.6billion) in facilities upgrade.  The investment includes the acquisition of new cranes to enhance operational efficiency of its terminals in Nigeria.  The Managing Director of Nigerian Ports Authority (NPA), Hadiza Bala Usman, at the inaugurated two new multimillion-dollar state-of-the-art Mobile Harbour Cranes (MHCs), acquired by APM Terminals said these will boost service delivery at the Apapa Port, Lagos.  The additional investment of US$80million (N33.6billion) for the year 2020-2021, brings the total investment by the company in…

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AP Moller acquires a Nairobi based thermal power plant

KENYA – AP Moller Capital, a Danish fund management company, has completed the acquisition of IberAfrica, a Nairobi based 52.5MW Independent Power Producer (IPP) from Naturgy. AP Moller Capital, which focuses on infrastructure in growth markets, acquired the entire issued share capital of the 52.5 megawatt (MW) independent power producer (IPP) from Spanish power and gas utility firm Naturgy. The Copenhagen-based firm had earlier set aside KSh20 billion (US$188.56m) for the acquisition deal and other investments in Kenya through its Africa Infrastructure Fund (AIF). Lars Jakobsen, a senior partner at…

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