Business

Sifax Group acquires N8bn cargo equipment

SIFAX Group has injected a whopping N8 billion, into its Terminal at one of the nation’s busiest seaports, Tin-Can Island Port, Lagos, Nigeria, in its bid to enhance the process of clearing cargoes.

It said that the fresh investment in the seaports is in line with the Federal Government’s directive on ease of doing business.

The company said the money was used for the purchase of some cargo handling equipment, disclosing that the equipment which included cranes and reach stackers were installed at its terminal operated by one of its subsidiaries, Ports and Cargo Handling Services Limited.

SIFAX’s Group Managing Director, Adekunle Oyinloye, who made this disclosure at the commissioning of the new equipment said the recent purchase for Ports and Cargo was part of efforts of the company to position itself as a first-choice terminal for importers, exporters and shippers.

Oyinloye said that the new equipment acquired were five shore cranes, nine Reach Stackers, 10 terminal tractors, five Nissan pickup vehicles, four trailer backs and other machinery.

He added that the acquisition was part of the company’s strategic investment to deliver quality service to its clientele and to further attract more patronage.

“With our new internal restructuring project code named Quantuam Leap, SIFAX Group is respositioning itself to become the first choice terminal not just in Nigeria but in West Africa. We have also set a target that will increase our revenue with over 300% in five years.

“One of the ways, we can achieve our set targets is to first begin with investment in equipment which will complement our excellent personnel asset. These new equipment are the best and latest in town, they will catapult us into the next level growth we are working towards,: he said.

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Aisha Ali Ibrahim, Assistant General Manager, Operations, who represented Hadiza Bala-Usman, Managing Director, Nigerian Ports Authority, expressed delight at the new acquisition, adding that it was a thing of joy that an indigenous company, Ports & Cargo Handling Services Limited, was competing favourably with foreign multinationals in the maritime sector in terms of investment, manpower and quality of service delivery Andrew Lynch, Managing Director, Mediterranean Shipping Company (MSC),

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