Vice-President, Professor Yemi Osinbajo has expressed optimism that more jobs would be created through production of local contents in the engineering and construction industry.
Osinbanjo who made this known , recently during his inspection tour of Kaztec Engineering Limited projects in Snake Island, Lagos, expressed delight about the engineering facilities being developed in the area saying that there is need to integrate them to the oil industries.
Established in 2005, Kaztec is one of the fastest-growing engineering, procurement, construction and installation (EPCI) companies in Nigeria. The company which has already completed several projects, extended one of it fabrication yard to the Snake Island with Addax Petroleum Development Company as its technical partner. It is the first fully owned indigenous fabrication yard in Nigeria.
Osinbajo who was represented by the Minister of State for Petroleum Resources, Dr. Ibe Kachukwu, said he was impressed with such huge amount of project being carried out at the yard, noting that the tour to the site is to draw investorsâ€™ attention to the site, which will also create more jobs and business capacity for people.
According to him, â€œthe project is massive, and there is capability towards the support the company will need. The whole work those in the local content are doing and that of the federal government has been decentralised.â€
He noted that the local investments coming to the industries with a four to five years projection, is close to N40 billion.
â€œThe government is creating an enabling environment that will end delays in the countryâ€™s products and with such projects as the KAZTEC facilities yard, it will make the products of the country cheaper and that is why the government has been supporting local contents projects and products.
The Chairman of Kaztec, Sir. Emeka Ofor told journalists that the new project after completion would be a one-stop-place for fabrication of offshore platforms, large offshore modules, FPSO refurbishment and new build jackets.
â€œIt would also provide facilities like pipe mill, pipe coating, dry and floating dock, logistics, supply base and skills development and satisfaction of all the project delivery needs of oil and gas companies doing business in Nigeria and provide jobs for Nigerians.â€
He said the project will need a full support from the federal government, as this will enable the company to create more jobs and attract more investors to the country.
Some of the dignitaries who attended the inauguration of the project include; Lagos State Governor, Mr. Akinwummi Ambode who was represented by his Commissioner for Health, Dr. Olajide Idris.
The inauguration which emphasises the aim of the company in the fabrication of drilling and production platforms, as well as other specialised structures in the oil and gas industry, including provision of full range of design, construction and maintenance services.
The services include the fabrication of offshore and onshore platforms (hulls, jackets, topsides, caissons, and piles), living quarters, electrical buildings, process vessels, skids and small modules, as well as corrosion protection services of structures and offshore hookups.
The company’s diversified capabilities also translate into greater efficiency and lower project costs.