http://thenationonlineng.net/firm-invests-400m-in-vessel-fabrication-integration-yard/

February 16, 2016

The Lagos Deep Offshore Logistics (LADOL) base and Samsung Heavy Industries have invested $400 million in a vessel fabrication and integration yard in Lagos, The Nation has learnt.

Additional $200 million will also be injected in the yard in the next few months.

The yard, it was gathered, has the capacity for Floating Production Storage and Offloading (FPSO) integration and conversion.

The $600 million LADOL free zone within the Apapa Pilotage District is a world-class facility. Access to the place is restricted.

It has extensive infrastructure and equipment layout, making it an ideal environment for vessel integration, offshore oil and gas mega-fabrication, pipe coating, engineering and agricultural processing centre.



The facility is fenced round with adequate lighting, close circuit television (CCTV) and port pass. Security operatives patrol the base.

A senior official of the Federal Ministry of Transport (FMoT) told The Nation that the base, a wholly indigenous organisation, has created jobs in the offshore logistics sector. On completion, he added, it will promote local content.

LADOL, the official said, has the biggest vessel fabrication and integration yard in the region, with capacity for FPSO integration and conversion, top-side FPSO modula fabrication, large offshore fabrication and range of general steel construction at a rate of 10MT per year. LADOL has also expanded its fabrication capacity from 10,000 tonnes to 40,000 tonnes to service FPSO, oil rigs, ship repairs and maintenance.

“The move is to concentrate on mega oil and gas and maritime fabrication jobs for West Africa in the country. Several countries in Africa, such as Sao Tome, South Africa, Ghana, Angola, Ivory Coast and Equatorial Guinea currently look up to the facility for the discharge of oil and gas cargoes.

“The issue of security risks in the business of discharging oil and gas cargo has been addressed by the promoters of the facility because they have complied with the International Ships and Ports Facility Security (ISPS) code which is being implemented in the country by the Nigerian Maritime Administration and Safety Agency (NIMASA).

“The width and draft of the Lagos channel which is now around 13.5 meters makes it possible for the base to handle FPSO operations. The minimum 600 meters radius for turning basin for FPSO operation has already been addressed

“Also, the fear that the facility would create an un-conducive operating atmosphere to terminal operators and that the economic interest of other users of the channel may be jeopardised, are mere delusion and figment of imagination of those raising the issues.

To make the nation’s ports Africa’s hub, improve LADOL, it was gathered, has acquired giant cranes described as the first in the country.

The acquisition of the equipment, may lead to a “vigorous market share battle” in the maritime and oil and gas industry.

An official working at the facility who identified himself as Mr Sunday said: “It is certainly something that has been needed for quite some time. It will bring more business to the port and more work hours for those engaging in the maritime trade. In future, the larger cranes may require rail lines and that the channel be widened and deepen by the NPA so that modern larger vessels can transit the waterway.”

The cranes, he said, were imported, to take care of heavy industries machines and other equipment that are needed in the maritime and oil and gas industry.

“The cranes were also purchased to attract big vessels and heavy cargo. The company is ready to deal with big capacity vessels that would bring in oil and gas cargoes, automobile parts, and heavy industrial materials,” he said.

LADOL Managing Director, Dr Army Jadesimi said the free trade zone would provide 5,000 jobs inside the company; 100,000 would be created outside the base.

“LADOL is the only 100per cent Nigerian logistics base owner in Nigeria and the only one to develop a facility from a zero value Greenfield NPA site into a $600 million world class base,” she said.

Mynd44, lalasticlala. FrontPage to promote this indigenous effort?

Kudos. Big things are happening.

.

Nice one. Keep 'em coming.

With the value of Naira at its lowest level ever and depreciating uncontrollably and our government seems very incapable to stop the trend,with neophytes running the financial sector of our dear nation. $400 million indeed will mean so much money.
So happy for the Samsung investment,which is rear in this government,atleast more jobs for Nigerian youths.

Thats cool. #GodblessNigeria

I like this. It's a big deal.

Hope the employ more nigerians later, not big
company importing workers

Good one.

ODVanguard:
Nice one. Keep 'em coming.

cool

AustineE1:
With the value of Naira at its lowest level ever and depreciating uncontrollably and our government seems very incapable to stop the trend,with neophytes running the financial sector of our dear nation. $400 million indeed will mean so much money.
So happy for the Samsung investment,which is rear in this government,atleast more jobs for Nigerian youths.

Hmmmmmm. ......

With this your presentation, why is this happening now?

Hope the employ more nigerians later, not big company importing workers

Nice FDI, we need more of this in Naija

AustineE1:
With the value of Naira at its lowest level ever and depreciating uncontrollably and our government seems very incapable to stop the trend,with neophytes running the financial sector of our dear nation. $400 million indeed will mean so much money.
So happy for the Samsung investment,which is rear in this government,atleast more jobs for Nigerian youths.

Government can not do anything about the naira when oil makes 95% of your foreign exchange earnings. You do not produce anything for export.

A welcome development!
I hope that Nigeria local Content Policy will be implemented here.
They should make room for transfer of knowledge to Nigerians thereby reducing the unemployment rate in the country.

Not Something New.. South West is known for investment..

70% of Businesses in Nigeria is being carried out in south-west .... Even my friendly tribe (IGBO) have no option than to invest in this region.

Don't be surprise to see INNOSON investing in Lagos if the company is successful (I pray that the company becomes great worldwide)

Together, we can form a great country.. It's just a matter of time..

GOD BLESS IGBO

GOD BLESS YORUBA

GOD BLESS HAUSA

GOD BLESS PMB

GOD BLESS NIGERIA

All I can see is dat chic doin d ground breaking ceremony. Abeg who has her number. I wan marryam

Okijajuju1:
Good Development, but I dont trust the Chinese.


Nigeria needs to raise an enforce stricter employment laws.

The Chinese, Indians, Lebanese and Arabs are slave drivers and the worst employers of labor Worldwide.

Nigerians. Bunch of lazy pple.

GoodBoi1:
Hope the employ more nigerians later, not big company importing workers

Ladol is a Nigerian company.

mccoy47:
All I can see is dat chic doin d ground breaking ceremony. Abeg who has her number. I wan marryam

Here's something to start with. Goodluck.

mccoy47:
All I can see is dat chic doin d ground breaking ceremony. Abeg who has her number. I wan marryam

You too like better thing.

The mature babe set sha.

Okijajuju1:
Good Development, but I dont trust the Chinese.


Nigeria needs to raise an enforce stricter employment laws.

The Chinese, Indians, Lebanese and Arabs are slave drivers and the worst employers of labor Worldwide.

Where did U see Chinese in the article please

Nice Development

tbaba1234:


Government can not do anything about the naira when oil makes 95% of your foreign exchange earnings. You do not produce anything for export.

wldnt it have been better if we go ahead and devalue the Naira,since we are already witnessing an indirect devaluation in the parallel market.
How do you explain the fact that this government prides itself with being an anti-corruption czar and yet the insincere technocrats cum politicians in this government has succeeded in manipulating the system. As it is,if you have access to central bank of Nigeria or the corridors of power,you buy dollars directly from the apex bank at #199 to a dollar and you quickly head to the black market and sell at #340\#345,is this not the worst form of corruption.
Why wld the central bank still deal with retail sales of dollars and why nt just devalue the Naira rather than the financial hanky panky going on within a closer circle of economic mafias.

idupaul:


Where did U see Chinese in the article please

SAMSUNG.. Deductive reasoning.


Korea, China, e.t.c.. Same people, different names.

YES!! Freaking awesome news. If this is PMB's handiwork I'm more than impressed.

Congrats to Ambode, Laos state, and Nigeria as a whole. We will get there.

Okijajuju1:



SAMSUNG.. Deductive reasoning.


Korea, China, e.t.c.. Same people, different names.

Bros, I no dey try you u but really the Koreans and Mainland China have NOTHING in common save for the fact that they are Asians. Stop lumping people's character traits together cause they have similar physical builds, that's a job for racists.

Okijajuju1:



SAMSUNG.. Deductive reasoning.


Korea, China, e.t.c.. Same people, different names.

Please cool down Korean and Chinese are in no way the same people with different name .. And for ur info I knew u were had made the silly mistake of thinking Samsung was a Chinese firm ...

Now the multiplier effect of this company will mean more steel consumption and metallurgy for Nigeria, more foundries and most importantly, a practical approach to education and research.

I'm so psyched for this to start.

Okijajuju1:
Good Development, but I dont trust the Chinese.


Nigeria needs to raise an enforce stricter employment laws.

The Chinese, Indians, Lebanese and Arabs are slave drivers and the worst employers of labor Worldwide.

Samsung is Korean Sir