Lagos based Deep Offshore Logistics, LADOL and Samsung Heavy Industries have kicked off full fabrication and construction of ships in Nigeria.
The joint venture agreement between the two companies saw them investing a whopping $400 million, about N8 billion, in a vessel fabrication and integration yard in Nigeria.
It also has plans to inject another $200 million in the yard in the next few months.
LADOL Managing Director, Amy Jadesimi, who disclosed these while conducting officials of the Nigerian Customs Service on a facility tour, noted that though LADOL went into local fabrication of Floating Production Storage and Offloading (FPSO) integration and conversion in 2015, it has gone into ship building after the joint agreement it had with Samsung Heavy Industry.
She said with this, shipping companies now have the opportunity of having their vessels built completely in Nigeria and will not have to ship them from parts to Europe and America.
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LADOL Partners With Samsung Heavy Industries for Ship Building https://t.co/mcd1D8MJqx https://t.co/gAIdBZdrJl
LADOL Partners With Samsung Heavy Industries for Ship Building https://t.co/82tpGTAMkI https://t.co/5vJ6raqmJ0