Malaysian Consortium Invests N2.8bn in Cabotage Shipping
By Francis Ugwoke
The international drive by the Federal Government to ensure the successful implementation of the Cabotage shipping regime in terms of fleet expansion has recorded some success with the $200 million (N28 billion) loan facility from a Malaysian Consortium for ship acquisition by local firms.
Already, a Memorandum of Understanding (MOU) has been signed by the National Maritime Authority (NMA) and a consortium of Malaysian investors, AFFCOM Group, which will be providing the funding for the purposes of ship financing and acquisition by indigenous firms
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