Don't Miss


Home   >   Business   >   Industries   >   Economy   >   AP Moller Maersk Planning Yuletide $130 Million Investment In Nigeria

AP Moller Maersk Planning Yuletide $130 Million Investment In Nigeria

By on October 17, 2011

Danish super shipping firm AP Moller-Maersk has indicated it sees enormous potential in Nigeria and plans to increase its investment in the country substantially.

According to head of Maersk Line in Central and West Africa, David Forest, “Nigeria has the same significance for Africa that China has had on the world economy in recent years. We see very high growth rates, and have begun to get a middle class, as we have seen in other emerging markets like Brazil and India. This means that the need for food and consumer goods like televisions and refrigerators will continue to rise in future.”

The Danish oil and shipping company is planning to invest 700 million Danish Krones or $ 130 Million to expand their products and services offered at the Nation’s biggest sea-port, Tin Can Island, Apapa, Lagos.

Head of APM Terminals in Lagos Mr. Koen de Backer says he expects the company to approve the investment before Christmas.