Article written by Michael Ehoh originally published in Vanguard on May 20, 2014.

Vanguard.jpgKaztec Engineering Limited, yesterday, said it will invest $750 million, about N120 billion, in the country between 2014 and 2015.

The company noted that the amount will be invested in setting up a pipe coating and pipe rolling mill facility, dry dock and logistics base at the dockyard, bringing the total amount the company will be investing in the facility since August 2013 at over $1 billion, about N160 billion.

Chairman of the company, Sir Emeka Offor, disclosed this during the tour of Kaztec facilities at the Snake Island Dockyard, Lagos, especially ongoing work on the Booster Compressor 2 on behalf of Addax Petroleum, by officials of the Nigerian National Petroleum Corporation, NNPC, led by its Group Managing Director, Mr. Andrew Yakubu; National Petroleum Investment Management Services (NAPIMS), former senate president, Mr. Ken Nnamani, among others.

Offor, disclosed that the project will contribute in alleviating the unemployment situation in the country, by creating about 5,000 direct jobs and 20,000 indirect jobs by 2016.

He said, “Kaztec is set to become a full Turnkey one-stop-shop in the area of FPSO refurbishment and new build; oil and gas large offshore modules; offshore pipelines and platforms; logistics and supply base; pipeline coating; structural steel pipe rolling mill, dry or floating dock and oil and gas training centers among others.”

Giving a breakdown of its successes thus far, Offor said the entire 550 hectares of land at the Snake Island facility has been cleared with 80 per cent of the land reclaimed.

He noted that dredging, sand filling and grading of phase 1A is ongoing at the site, while form work is ongoing for pre-cast of sub-assembly foundation and foundation trench for warehouse has been set up.

Also speaking, Mr. Cornelius Zegeelar, Senior Vice President/Managing Director, Addax Petroleum, said the project is a reflection of Kaztec’s capacity in the oil and gas sector, adding that it will help boost its production capacity by about 6,000 and 7,000 barrels per day.

Mr. Marc Robillard, Commercial Director, Kaztec Engineering, noted that the company is set to improve Nigeria’s position as an oil and gas Engineering design; Procurement and logistics; Construction and fabrication and Management (EPIC-M) provider.

According to him, this is possible as the company currently has 50 engineering design professional in its employ, building to over 300 in 2016, while it currently has 75 professionals building to over 200 in 2016; 500 skilled labour workforce at present, building to over 5,000 in 2016 and 30 project managers building to over 150 in 2016.