Swiss firm MSC wins 45-year deal to build Lagos container terminal, opening 2028.

MSC, a Swiss shipping company, has won a 45-year concession to develop, operate, and maintain a new container terminal at Lagos’s Snake Island Port in Nigeria, part of a $1 billion infrastructure investment. The terminal, being built by ITB Nigeria and DEME Group, will span 30 hectares with a 910-meter quay to handle deep-sea vessels and barges, with operations set to begin by 2028. The project aims to ease severe port congestion in Lagos and elevate the port’s global role. The development reflects a growing trend of major shipping firms securing long-term stakes in emerging markets amid shifting global supply chains.