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Business News

Camalaniugan Bridge: Julius Berger to partner Frey-Fil Corporation 

Julius Berger Nigeria Plc has declared its interest to participate in the upcoming bidding process for the Camalaniugan Bridge in a consortium with Frey-Fil Corporation in the Philippines. 

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Julius Berger declares final dividend for FY 2018

In a statement made available to the public, Julius Berger Nigeria Plc has declared its interest to participate in the upcoming bidding process for the Camalaniugan Bridge in a consortium with Frey-Fil Corporation in the Philippines. 

While the details of the intended consortium with Frey-Fil is yet to be provided, the construction company promised to provide further details to the market as the transaction progresses. 

[READ MORE: Platinum eyes N10bn share capital in one year]

Why this matters: Following its vision for diversification, Julius Berger admitted that the Camalaniugan project would be an opportunity to gain experience and references in the Philippine market. Nairametrics understands that the references in the market will improve the company’s revenue and at the same boost its value in the global construction industry. 

What you should know: The Department of Public Works and Highways (DPWH) Region 2 had proposed the construction of two iconic bridges in Cagayan province. According to DPWH Asst, Regional Director, Alexander Nola, the proposed bridges are under the Iconic Bridges Project for Sustainable Socioeconomic Development (IBPSSD) aimed at improving the routes connecting the municipalities. 

As reported by the Philippine Information Agency, the Pinacanauan Bridge 2 in the city will replace the existing overflow bridge. It is a four-lane bridge to alleviate congestion and improve transportation service with a proposed budget of P2.73 million. 

The other proposed bridge, on the other hand, involves the construction of a new four-lane bridge to be situated at Barangay Carallangan in Alcala with a proposed budget of P3.23 million.  

[READ ALSO: South African firm to sell stake in Oando office tower]

An Overview of the company: Julius Berger Nigeria Plc is a Nigerian construction company, headquartered in Abuja, with additional permanent locations in Lagos and Uyo. The company is represented across Nigeria in structural engineering and infrastructure works, and in southern Nigeria through domestic and international oil and gas industry projects.

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ).Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

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Energy

Agip shut oil facility in Bayelsa due to oil spillage, environmental pollution reported

Agip on Wednesday confirmed an oil leak, resulting in a shutdown.

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The Nigerian Agip Oil Company (NAOC) has confirmed the shutdown of its Idu oilfields at Egbebiri settlement within Biseni in Yenagoa Local Government Area in Bayelsa, due to an oil spillage.

A Joint Investigative Visit (JIV) report on the incident said that the leakage at the facility could be traced to equipment failure due to a rupture at the wellhead.

According to a report from the News Agency of Nigeria (NAN), Eni, the parent company of NAOC, in a response statement, said the facility was shut down to prevent further damage to the environment.

What Eni is saying

An Eni Spokesperson on behalf of the Italian Energy firm, in a statement said, “As soon as the incident was reported, we activated our oil spill response, shut in the well and notified government regulatory agencies.

“The Joint Investigation Visit (JIV) was carried out on 09/05/2021, with participation of community representatives and the government regulatory agencies.

“The event occurred within the Company’s well head location which is paved and walled round. There is no significant third party impact,” Eni stated.

Environmental Rights Group reports environmental degradation

An environmental rights group, Environmental Rights Action/Friends of the Earth Nigeria (ERA/FoEN), however, said that the incident which discharged crude and associated gas had severely polluted the environment.

The Non-Governmental Organisation said that a visit to the spill site showed pictorial evidence of the crude spreading beyond NAOC’s right of way as nearby vegetation were affected as a result of the crude impact.

Hotflex

The Head of Field Operations at ERA/FoEN, Mr Alagoa Morris, in a field report on the spill said the Idu fields was notorious for frequent spills caused by equipment failure.

He said, “The people of Egbebiri in Biseni kingdom have experienced several oil spills over the years. And all the oil spill incidents documented by the Environmental Rights Action/ Friends of the Earth Nigeria (ERA/FoEN) in this community environment have occurred as a result of equipment failure and on Wellheads.

“ERA/FoEN has had cause to visit the environment of Idu Well 5 and 11 located within the same place in the past and it has always been Idu Well 11 spewing crude oil into the environment.

“Available records from ERA/FoEN indicate that there have been previous oil spills from this particular Idu Well 11 operated by Agip. Before concluding this Field Report, ERA/FoEN confirmed that Joint Investigation Visit (JIV) was carried out on Sunday, 9th May 2021.

“This is why the official Spill Reference No 2021/LAR/028/058 is indicated in this report; sourced from the JIV report. Cause of spill was attributed to equipment failure,” ERA/FoEN stated.

The report quoted a resident of the community simply identified as Georgie as saying that the spill incident of May 7 spilled oil from around 10 p.m till about 8 a.m the next day before the leak was stopped adding that the level of damage was enormous.

What you should know

It can be recalled that in a similar circumstance, Shell Petroleum Development Company reported an oil pipeline spillage at its Okordia-Rumekpe 14-inch crude truck line, discharging about 213 barrels of crude oil into the Ikarama community in Bayelsa State and polluting about 1.34 hectares of land.

Jaiz bank

This new leakage is the latest in a series of oil spillages by the multinational oil exploration and production companies, which has put them in conflict with the host communities.

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Energy

Nigeria records system collapse during holidays

Nigeria’s national electricity grid collapsed on Wednesday morning.

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Abuja, Ikeja Discos top list in collection efficiency in Q1 2020- NERC, Estates in Lekki increase electricity tariff to N105/kWh, Eko Electric, Ikeja and 5 others to face NERC sanction for non-compliance, CBN reveals framework for financing National Mass Metering Programme (NMMP), Nigeria ranks eight African country with well-developed electricity regulatory frameworks, as Uganda tops.

The Nigerian grid has experienced a partial collapse, dealing a blow for stay at home Nigerians during the holidays.

This was confirmed in a statement by the Eko Electricity Distribution Company (EKEDC), as seen by Nairametrics.

What EKEDC is saying about the grid collapse:

“Dear customer, there is a partial system collapse on the National Grid. Our TCN partners are working to restore supply immediately. Please bear with us.”

According to latest reports, partial restoration of power is already occurring across the country.

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