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Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria - Business - Nairaland

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Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by postbox: 6:26am On Apr 09, 2018
The much-needed investment that will spore activities in the maritime sector that stakeholders have been yearning for is set to materialize as promoters of the Tomaro Industrial Park, which was last year granted Free Trade Zone, has commenced work in the free zone.

The entire project, which is estimated at $450 million (N162 billion) includes a ship fabrication yard, a modular refinery, access slipway, oil storage tank farms, water treatment plant, power generation plant, container lay down/transit, and crude oil distillation unit.

The promoter of the project and Chairman of Integrated Oil and Gas Company Limited, Capt Emmanuel Iheanacho disclosed this in a chat with journalists in Lagos.

 Taking officials of the Nigeria Customs Service (NCS) led by Mr. Darki Hadia Yakubu and journalists around the facility, Iheanacho identified a number of businesses that are being planned at the free trade zone which will add a lot of value to the national economy in terms of industrialization, employment and revenue generation.

Other projects lined up in the free zone, he stated, include a hanger for helicopters to operate from there and a five-star hotel.

Iheanacho said in the next few months, the company will have some particular projects among those lined up to the commission, adding that all hands were on deck to deliver on the mission of the free trade zone.

He said that so far a lot of investors have shown interest in investing in the project. According to him, some Chinese and British investors have shown interest in investing in the free trade zone project.

Iheanacho said what triggered off the attraction of investors was the level of seriousness demonstrated so far and the $800,000 grant received from the United State Government through the United States Trade and Development Agency (USTDA) to support the project.

Specifically, he explained that the grant was to finance the detailed analysis of supporting technologies and engineering for the implementation of the 20,000bpd crude oil refinery.

The free port zone is 75 hectares of land in between the Snake Island and the Lagos Deep Offshore Logistics Base (LADOL) which are also enjoying free trade zone status.

Iheanacho explained that the plan for the shipyard is to start with ships of smaller sizes and later develop into a capacity to build bigger vessels.

Already, there is an ongoing construction work at the site which is for the oil storage tank farms.

President Muhammadu Buhari had last year officially announced Tomaro Industrial Park as part of the efforts to ensure the industrialization of the nation’s economy.

The Managing Director of the Nigerian Export Processing Zones Authority (NEPZA), Mr. Emmanuel Jime while announcing the President’s approval said it was the way forward, adding that the structure of FTZ was a model for development.

He said that there were a number of incentives to have businesses sited in the Free Trade Zone.
According to him, “We want to make Nigeria an attractive and preferred destination for business. And the mandate of NEPZA is to create an enabling environment for businesses so that they can find Nigeria a sure destination.”

SOURCE: https://brandspurng.com/investor-stakes-450-million-on-new-free-trade-zone-to-build-ships-in-nigeria/

2 Likes 1 Share

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by SamuelAnyawu(m): 6:59am On Apr 09, 2018
Great

1 Like

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by kuuljay(m): 8:12am On Apr 09, 2018
Good,fear Yoruba's,others are busy chanting shithole while the motherfuckers are busy working at night

21 Likes 1 Share

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by Qiiiii: 8:12am On Apr 09, 2018
nice
Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by akilo1: 8:12am On Apr 09, 2018
good news and hope this to create some jobs for the unemployed
Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by DzTzl(f): 8:13am On Apr 09, 2018
I hope 450M will not be "Dasukified"

1 Like

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by Clerverly: 8:13am On Apr 09, 2018
Ipob miscreants will avoid this thread.... Because it is not negative news about Buhari or Nigeria.

11 Likes 1 Share

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by Nobody: 8:13am On Apr 09, 2018
Any smart and intelligent Nigerian will know this is the time to acquire a plot of land around the free trade zone as e dey hot.



We sell land there too.

5 Likes

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by NdiaraIGBO: 8:14am On Apr 09, 2018
East nko? Wetin dey happen for Igboland?

Lagos go suffocate Igboland, who go leave Lagos go invest for Bush?

Wey Anambrason1?

9 Likes

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by emeejinsm: 8:16am On Apr 09, 2018
I hope the will start soon , and not
We will
We are to
We shall
And 4 years go finish
Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by ally457(m): 8:17am On Apr 09, 2018
naija on d grow
Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by abumeinben(m): 8:18am On Apr 09, 2018
I don't know if this sounds appropriate, but can we have Free Trade "Zones" for education in this country?

How many Authorities and Agencies do we have in this country?

Plus what happened to Hyundai Heavy Industry?

1 Like

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by 400billionman: 8:19am On Apr 09, 2018
Capt Iheanacho should be from Imo state. Why are Imo people so rich?

2 Likes

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by merbenko(m): 8:21am On Apr 09, 2018
Election period is around the corner, different stories will be extract
Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by weezii(m): 8:24am On Apr 09, 2018
No pictures?

Capt Iheanacho well done

2 Likes

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by tobillionaire(m): 8:25am On Apr 09, 2018
cool
Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by checkedout: 8:25am On Apr 09, 2018
Igbologun (Snake Island) Ilu mi.....
Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by Jozzy1063: 8:26am On Apr 09, 2018
Happy to hear this
Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by NgwaManNaija4LF(m): 8:26am On Apr 09, 2018
Please build that in South south or South east because very soon we will divide this shithole.

1 Like

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by GavelSlam: 8:32am On Apr 09, 2018
NgwaManNaija4LF:
Please build that in South south or South east because very soon we will divide this shithole.

Iheanacho knows better.

9 Likes

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by NgwaManNaija4LF(m): 8:35am On Apr 09, 2018
GavelSlam:


Iheanacho knows better.

Shut the hell parasite, which better.

1 Like 1 Share

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by GavelSlam: 8:42am On Apr 09, 2018
NgwaManNaija4LF:


Shut the hell parasite, which better.

Will you shut the front door brainless hog.

The man with money knows your type of people would only create more and more problems for his industry.

That's why you are in penury and he's the man with the bucks.

Just swallow your daily Garri and allow the industrialists plan.

11 Likes

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by NgwaManNaija4LF(m): 8:46am On Apr 09, 2018
GavelSlam:


Will you shut the front door brainless hog.

The man with money knows your type of people would only create more and more problems for his industry.

That's why you are in perjury and he's the man with the bucks.

Just swallow your daily Garri and allow the industrialists plan.


Who is this AfonjaArawanistan trying to associate with us...
Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by koladebrainiac(m): 8:48am On Apr 09, 2018
for real? so we go get shiyard here. who will be the market?

1 Like

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by BecomeALandLord(m): 8:51am On Apr 09, 2018
Awesome news.

Anyone who has a piece of Land at ibeju Lekki axis is guaranteed massive returns on investment once the Lekki Free Trade zone and other developments becomes fully functional.

Secure your future today.

3 Likes 1 Share

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by GavelSlam: 8:53am On Apr 09, 2018
NgwaManNaija4LF:


Who is this AfonjaArawanistan trying to associate with us...

I'm a full-blooded itsekiri man not your type that screams parasite up and down yet the only thing you produce is palm oil.

9 Likes

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by NdiaraIGBO: 9:06am On Apr 09, 2018
GavelSlam:


I'm a full-blooded itsekiri man not your type that screams parasite up and down yet the only thing you produce is palm oil.


You wan kill am? Na nuclear weapon you just throw am.....Kai! Biafrans!

4 Likes 1 Share

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by GavelSlam: 9:08am On Apr 09, 2018
NdiaraIGBO:


You wan kill am? Na nuclear weapon you just throw am.....Kai! Biafrans!

To be fair, not all igbo people are like that. But amongst them are the urchins who make the loudest noise.

Take a look at the thread and see how people are talking about cashing in on this situation but trust the brain-dead failure in life to start asking for a change of location.

8 Likes

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by winterfell007(m): 9:14am On Apr 09, 2018
It seems the island is shaping up for serious industrialization. Dangote industrial landscape has shown them the way.

3 Likes 1 Share

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by NgwaManNaija4LF(m): 9:42am On Apr 09, 2018
GavelSlam:


I'm a full-blooded itsekiri man not your type that screams parasite up and down yet the only thing you produce is palm oil.


Which Itsekiri? the same animals that came to South South claiming to be one among us,better go back to your ancestral land in Osogbo because you have no right across the Niger and we don't consider your 1 percent population. Just imagine the idiot, as if your mother don't cook with it,mention one state your tribe are the majority ODE yoruba boy,come and take our oil jealous fool. Illigal immigrant.

Now take what your forefathers are good at.

1 Like

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by giles14(m): 11:36am On Apr 09, 2018
kuuljay:
Good,fear Yoruba's,others are busy chanting shithole while the motherfuckers are busy working at night
which Yoruba ? who owns the company is the main deal

1 Like

Re: Investor Stakes $450 Million On New Free Trade Zone, To Build Ships In Nigeria by ncoolsome(m): 11:53am On Apr 09, 2018
kuuljay:
Good,fear Yoruba's,others are busy chanting shithole while the motherfuckers are busy working at night





Its as if u are blind abidoes that sound like a yourbas man name??


The promoter of the project and Chairman of Integrated Oil and Gas Company Limited, Capt Emmanuel Iheanacho disclosed this in a chat with journalists in Lagos.

1 Like

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