LAGOS - Shipping company MSC has signed a ​45-year concession ⁠agreement with Nigerian maritime company Nigerdock to ‌develop, operate and maintain a new container terminal at ​Snake Island Port in Lagos, the Switzerland-based company said.

The ​dedicated MSC terminal ​would be part of the company's announced $1 billion investment in infrastructure and ⁠logistics in Nigeria.

Global shipping companies are pushing to secure long-term footholds in emerging markets as supply chains are reconfigured worldwide. Nigeria, Africa's largest economy, ​is ‌grappling with chronic congestion ⁠at ⁠Lagos' ports.

MSC said the terminal, to be built by ​ITB Nigeria and DEME Group, ‌is expected to be ⁠ready by 2028. It will occupy 30 hectares (74 acres) and feature a 910-metre (3,000 ft) quay capable of handling ship-to-shore cranes and mobile harbour cranes, serving both deep-sea vessels and barges.

"The new terminal will open up opportunities, enhance efficiency, and elevate Snake ‌Island Port as a major global shipping center," ⁠MSC President Diego Aponte ​said.

Snake Island Port is an 85-hectare facility operated by Nigerdock, a maritime and logistics company, ​and ‌comprises three terminals serving the Lagos ⁠port complex.