Nigeria Content Online

Work is set to
commence on a shipbuilding yard in Calabar, capital of Cross River
State, following an agreement signed between the state government and a
consortium of shipbuilding firms from India.

E. J. Williams of
Jones-Tech International Limited, the project facilitator, told the
state governor, Liyel Imoke in his office in Calabar that they have
assessed the shipyard to be built after clearing the land. He said they
were convinced that the project will employ over 5,000 Nigerians,
including artisans and various engineers when it takes off.

Mr Williams noted
that the project when completed will change the socio-economic status
of Cross River State, based on their experience in the business.

Calabar is peaceful

The project
facilitator said the state government will provide counterpart funding
to the tune of 10 percent, other Nigerians 40 percent while its Indian
technical partners will come through with the remaining 50 percent of
the cost of the shipyard, valued at one million dollars.

Mikael Lindholm of
ABG Shipyard Limited said they have undertaken feasibility studies of
the project as builders of one of the biggest shipyards in India and
are prepared to undertake a similar project in Nigeria.

He said West Africa
is ideal for such a gigantic venture because of oil exploration
activities, and Calabar being a peaceful city with vast tourism
potential is a suitable place for the project. Mr Imoke, in his speech,
commended the company for choosing Calabar as a location for building a
shipyard. He observed that as the headquarters of the Eastern Naval
Command of the Nigerian Navy, Calabar is safe for marine business.

The governor said
the envisaged shipyard will boost the shipping industry in the country
for various operations for civil and military use. He expressed the
hope that it will be concluded for the benefit of those in the shipping
business.