Nigerian firms to benefit from $1.8bn vessel building contract           

Many Nigerian companies taking part in the supply of products for the building of the Nigeria Liquefied Natural Gas (NLNG) Limited’s six new ships expected to realise about $10 million in revenues.According to a statement signed by NLNG’s General Manager, External Relations Division, Kudo Eresia-Eke, the company, via its subsidiary company, Bonny Gas Transport (BGT) Limited, in 2013 contracted the building of the new vessels to South Korean shipbuilders, Samsung Heavy Industries (SHI), and Hyundai Heavy Industries (HHI), and successfully leveraged to include a unique local content clause which enables the concerned Nigerian companies to benefit from substantial vessel construction material export contracts.
It disclosed that Paints and Coatings Manufacturers Nigeria (PCMN) Limited is among the key local beneficiaries, and on its part has already shipped 66,000 out of an agreed 388,000 litres of paint, to Samsung Heavy Industries shipyard in South Korea.
“Other companies which have also already exported products to South Korea include Berger Paints Nigeria Plc, which has exported 33,000 of its 83,000-litre quota, worth over $1 million, and Metec West Africa, which has exported two hundred and 10 tonnes (210) of anodes, valued at $2.5 million.
“Nexans Kabelmetal Limited, another notable beneficiary, recently shipped 180,000 metres of cables costing over $1 million to the South Korean shipyards,”the statement added.
NLNG’s General Manager, Shipping, Captain Temi Okesanjo, said that the achievements recorded by Nexans Kabelmetal, Berger Paint Nigeria Plc, Metec West Africa and other Nigerian manufacturers, have added to the success of the vessel acquisition project of the company.
“The benefits from this project do not stop at exports. For example, Berger Paints and Kumkang Korea Chemicals Ltd (KCC), a South Korean company, and technical partner to HHI, will exchange staff in a special technology transfer programme.
“By the end of this project, NLNG would have helped the concerned local companies acquire the necessary capacity and know how, to successfully compete with peers from all around the developed world. This is consistent with NLNG’s vision to help build a better Nigeria.” Okesanjo added.
NLNG ferries Liquefied Natural Gas (LNG) cargoes onboard large ships to buyers in different parts of the world, and is ranked among the top five global suppliers of the commodity.