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Tuesday, 12 September 2017 15:54

FG Approves Concession of Lagos, Abuja Airports

The Federal Executive Council (FEC) has approved the concession of the Murtala Muhammed International Airport and Nnamdi Azikiwe International Airport, Vice-President Yemi Osinbajo disclosed yesterday.
 
The vice-president made this disclosure at the quarterly parley of the government and private sector stakeholders organised by the Presidential Enabling Business Environment Committee (PEBEC), held at the Presidential Villa, Abuja.
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Tuesday, 15 August 2017 11:08

Total’s Egina FPSO reaches 98%

The construction of Total Exploration and Production Nigeria Limited’s $3.3 billion Egina floating production, storage and offloading, FPSO, vessel has reached 98 per cent, thus raising hope for the completion of $16 billion Egina project.

Investigations, weekend, showed that many aspects of the project, including design, fabrication and welding, have been completed. Officials of Samsung Heavy Industries – Mega Construction Integration Free Zone, (SMI-MCI FZE), jointly established by Samsung Heavy Industries (SHI) and LADOL Integrated Logistics Enterprise were seen working to complete the remaining two percent of the project.

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Despite all the hype, the Tolaram Group, an international private consortium and promoters of the Lagos Free Trade Zone (LFTZ), has said that even as more investors are indicating interest in the massive developmental project, only four industries have commenced operations in the Zone.

The consortium said so far, it has a combined project value investment of about $150million for the development of the four factories, while it plans to invest more funds as new industries spring up at the facility.

The factories include the TG Arla, manufacturers of Dano Milk; Palm Oil Refinery, producers of power oil; Cereals and Kellogs Production Company and the Insignia Technology Prints.

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Newly appointed managing director of Nigeria Export Processing Zones Authority (NEPZA), Emmanuel Jime, will tomorrow continue with his fact-finding/familiarisation of tours of Free Trade Zones (FTZs) in the country.
Jime, who had earlier toured some FTZs in the Lagos axis last week, was billed to visit Kano today (Monday) to familiarise himself with operations of the Kano Free Trade Zone but redrew his plans at the last minute.
 
On Tuesday (tomorrow), Jime will return to Lagos to continue his tour of FTZs in Lagos. Between Tuesday and Thursday, he will visit the elite premises of the Lekki Free Trade Zone (LFTZ) as well as those of Eco-Atlantic Free Trade Zone (EA-FTZ), otherwise known as Nigeria International Commercial City (NICC).
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The Lagos Deep Offshore Logistics (LADOL), has disclosed that it is investing in a gas fired power plant, which will be built in phases.

The Managing Director, LADOL, Amy Jadesimi, dropped the hint during a tour by a team from the Nigeria Export Processing Zones Authority (NEPZA) to the base.

Published in News Investors