The Lagos Deep Offshore Logistics (LADOL) base and Samsung Heavy Industries have injected $400 million in a vessel fabrication and integration yard in Lagos, Footprint to Africa reports.
Additional $200 million will also be injected in the yard in the next few months.
The yard, Footprint to Africa gathered, has the capacity for Floating Production Storage and Offloading (FPSO) integration and conversion.
A senior official of the Federal Ministry of Transport (FMoT) recently disclosed that the base, a wholly indigenous organisation, has created jobs in the offshore logistics sector, stressing that on completion it will promote local content.
LADOL, the official added, has the biggest vessel fabrication and integration yard in the region, with capacity for FPSO integration and conversion, top-side FPSO module 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.
LADOL, to make the nation’s ports Africa’s hub, it was gathered, has also acquired giant cranes described as the first in the country.
The acquisition of the giant cranes, Footprint to Africa learnt may lead to a “vigorous market share battle” in the Nigeria’s maritime and oil and gas industry.