Guardian News: Nigerian firms to reap $1.8 billion from NLNG’s vessel building contracts
Several indigenous companies taking part in the supply of products for building Nigeria Liquefied Natural Gas (NLNG) Limited’s six new ships, are expected to realise about $10 million (N1.8 billion) 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 company-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.