Friday 15 May 2015

Presidency orders relocation of $500m port project to Bayelsa

                                NPA
Firm faults directive
CITING presidential order, the Nigerian Ports Authority (NPA) has directed the management of LADOL Integrated Logistics to relocate its ongoing $500million fabrication and integrated yards project in Takwa Bay within Apapa pilotage area in Lagos State to Aggey, Bayelsa State.

But the company’s management described the directive as “shocking’’ and out of tone with the agreement it entered into with its technical partners and the federal government.

The one paragraph letter was dated April 27, 2015, and signed by NPA’s General Manager (Capital Project), A.R. Mohammed, on behalf of the Managing Director.

It was titled: “Re: Joint Venture Partnership with Samsung Heavy Industries for the USD$500 Million development of fabrication and integration yards for EGINA and Future Projects”.

The letter read: “Please, be informed that Mr President has via PRESS/S9/MT/212 of April 20, 2015 approved that the FPSO (Floating Production Storage & Offloading) project can be located at Agge, Bayelsa State when the facilities to handle such operations are developed. In addition, the project can be conveniently located at any dedicated Oil and Gas Terminal”.


 

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