BUA Ports and Terminals Limited, a subsidiary of BUA Group, has reopened its Portharcourt terminals shut down by the Nigerian Ports Authority (NPA) last year.
In October 2019, the ports authority decommissioned the whole concession arrangement which BUA Group got in 2006, claiming that the unsafe operational environment of the jetty (BUA concession area) needed urgent repairs and reconstruction.
POLITICS NIGERIA reports that the NPA and the company have been in a dispute over a port terminal in Port Harcourt, Rivers state. The Company, however, accused NPA of breaching the court process. Meanwhile, in a statement obtained by this newspaper on Wednesday, the company informed the public that the notice of termination issued by the NPA has been withdrawn.
"The Ongoing arbitration at the London Court of International Arbitration (LCIA) be discontinued, and the BUA terminals be reopened immediately for operations," the company announced.
The management disclosed that decision is in line with the "earlier and consistent stand that all parties respect the content and spirit of the concession agreement for the facility."
"We also want to thank you unequivocally - our dear customers, employees, dockworkers and other stakeholders for your patience, support and for keeping faith with us throughout this period."
"BUA remains committed and has put in place structures to develop a best-in-class terminal at the Rivers Ports to serve not only users of the Rivers Ports but also, the recently constructed $400 million foods manufacturing complex adjacent to the terminal."
"BUA remains a law-abiding corporate citizen and is looking forward to working with the management of the Nigerian Ports Authority in resolving any outstanding issues and making the Eastern Ports one of the best in the country," the statement read in parts.
Source: https://politicsnigeria.com/just-in-bua-reopens-bua-ports-and-terminals-for-business/
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