Is FG’s intervention a failure on LADOL, Samsung HI operating license crisis?
In the past few days, there had been some levels of sinister and counter-sinister campaigns between the LADOL management and Samsung Heavy Industries (SHI) since the fallout of misunderstanding from the domestic integration jobs on the arrival of Total\s Egina FPSO from South Korea.
Samsung currently has a dispute between the Global Resource Management Free Zone Company (GRMFZC), LADOL’s free-zone management, which relates to GRMFZC’s refusal to renew SHI-MCI-FZE’s Operating License for the free-zone, situation expert say might jeopardize further investments. A close source to the deal who pleaded anonymity averred that because of the sensitivity of the matter, said even federal government’s intervention does not seem to have worked.
Analysts say the best option for the Federal Government is to mediate and found a lasting solution to the crisis so as to save jobs, improve on innovation and deepen industrial harmony.
Business Hilights gathered that the global shipbuilding firm, SHI has committed over $400 million as tax revenue and investment in Nigeria’s oil and gas sector.
The company said it has been investing the money since it was awarded the contract to build the Floating Production Storage Offloading (FPSO) unit for the 200,000 barrels of crude oil per day Egina deep-water field. Insider sources say the company also contributed $100 million of tax revenue so far, in addition to providing approximately $300 million of investment into SHI-MCI-FZE, and thousands of Nigerians with education, training and employment.
Samsung currently has a dispute between the Global Resource Management Free Zone Company (GRMFZC), LADOL’s free-zone management, which relates to GRMFZC’s refusal to renew SHI-MCI-FZE’s Operating License for the free-zone, situation expert say might jeopardize further investments. A close source to the deal who pleaded anonymity because of the sensitivity of the matter said even federal government’s intervention has not worked because the needed seriousness is yet to be accorded to it.
