The Badagry Ship Repair Marine Engineering Consortium has emerged as the lead investor in the $1.5bn dockyard project that is being facilitated by the Nigeria LNG Limited.
The consortium, which includes companies like Sifax Logistics and Marine Services Limited, SIVC Infrastructure, DMCC (Sahara Group Limited), Japaul Oil and Maritime Services Plc, Energy Nature Limited and GMT Energy Services Limited, is expected to take the initiative of financing and driving progress related to the successful actualisation of the milestone project, according to a statement.
The project will also have the financial and technical involvement of two Korean shipbuilders, Samsung Heavy Industries and Hyundai Heavy Industries, which are expected to invest millions of dollars in it.
According to the statement, the Africa Finance Corporation will also be providing financial consultancy and support.
During a courtesy visit recently to the NLNG office in Abuja by a delegation representing the group, the Chairman, BSMEC, Dr. Taiwo Afolabi, reaffirmed the consortium’s commitment to the ship dockyard project, adding that it was fully aligned with NLNG’s aspiration for the country to have a major shipyard that could deliver quality services, while increasing Nigerian content development in the oil and gas sector.
