Maritime World News

Italy’s ‘Rep’ President commends INTELS over Eko Energy Estate

Written by Maritime First
  • As Navios Partners to Buy One More Capesize Bulker

Italy’s Chamber of Deputies President, Nigeria’s equivalent of the House of Representatives , Mrs Laura Boldrini, on Sunday poured encomium on Nigeria’s leading oil and gas logistics giant, INTELS Nigeria Limited, after visiting and seeing the Intels multi-billion naira Eko Energy Estate being developed, at the Eko Atlantic City, Lagos.

The Italian top parliamentarian commended INTELS Nigeria Limited and the developers of the Eko Atlantic City for initiating the ambitious project, which she said, will contribute to the diversification of Nigeria’s economy.

“This country is so rich in land and agriculture. So this is the time to put a different perspective in place.

“I am happy there is a lot of interest from outside investors because this country has to be supported because it has a big potential,” Mrs Boldrini said, highlighting that Italy would be happy to support Nigeria’s steady march, towards full diversification of its economy.

Mrs Boldrini and her team were received by INTELS Director/Chief Executive Officer of Prime Properties and Investment, Mr. Silvano Bellinato; the General Manager, Commercial of INTELS Nigeria Limited, Mr. Massimiliano Landolfi and the Managing Director of SouthEnergyx Limited, Mr. David Frame.

While briefing the delegation, Mr. Landolfi said the Eko Energy Estate is spread across 450,000 square metres of land area, taking full advantage of the location at the Lagos channel and the main canal entrance at the Eko Atlantic City.

General Manager, Commercial of INTELS Nigeria Limited, Mr. Massimiliano Landolfi (left) conducting the President of Italy’s Chamber of Deputies, Mrs Laura Boldrini (right) around the Eko Atlantic City on Sunday.

He said the master plan of the Eko Energy Estate will create a green and family-friendly neighbourhood, while providing an enabling environment for foreign investors to work and live more conveniently in Lagos with the Eko Atlantic Business District, an international school, hospital, shopping malls and a Marina at close proximity.

He highlighted that Eko Energy Estate Phase 1, which consists of 3 towers of Ground plus 19 floors with a flexibility of one to four bedroom apartments tailor-made to clients’ requirements, will be completed by mid-2018.

According to him, “Facilities like swimming pool and pool bar, tennis court, gym and playground are included. Some of the services rendered will be 24/7power supply, water and sewage treatment, security, ICT and 25 years track record of estate management”, he indicated, noting that other facilities at the Estate also include a Trade Centre, comprising two office and corporate towers of 30 floors each, to provide “a comprehensive solution for the corporate sector”.

Shedding more light, he explained that the Eko Energy Estate will also have a shopping mall with variety of food markets, restaurants, bars, fully equipped sports centre, ample parking facilities and an urban park area.

Mrs. Boldrini was accompanied on the visit by the Ambassador of Italy to Nigeria, Mr. Fulvio Rustico, Consul-General of the Italian Embassy in Lagos, Dr. Andrea Pompermaier, and other top Italian Government officials.

INTELS Nigeria Limited has severally demonstrated its unflinching commitment to the development of Nigeria’s economy and the oil and gas industry. The company, which developed the Onne Free Trade Zone in Rivers State, is also a terminal operator at Warri, Calabar and Lagos ports.

At Onne, INTELS provides 876 units of accommodation on 50 acres of land near. The Onne Free Zone is a Federal Government facility developed and positioned by INTELS to play a major role in the development of the West African oil and gas industry, with a unique package of incentives and strategic advantages unrivalled throughout the rest of the West and Central Africa sub-region.

While the Onne Free Zone provides a wide range of incentives and other strategic benefits to investors, similar to those offered by other successful Free Zones around the world. Some of the incentives approved by the Federal Government for companies operating at the Onne Free Zone include free port incentives, Customs incentives, immigration incentives, tax incentives and other benefits contained in Section 18 of the Oil and Gas Free Zone Act.

Recently, the Executive Secretary of Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote, after a tour of the Onne Free Zone commended INTELS for building what he termed a “world-class facility”, where close to 200 companies operate.

Various other organisations and government agencies have commended INTELS for its strong positive impact on port operation, the oil and gas sector, real estate and for positively enhancing the welfare of people in several communities across the country.

In the meantime, Greek shipowner and operator Navios Maritime Partners has signed a deal to acquire a Capesize bulker for USD 28.3 million.

The 180,274 dwt vessel will be delivered to Navios Partners from an undisclosed seller by August 2017, according to the company.

The ship is expected to generate approximately USD 3.7 million of annual EBITDA based on the current rate environment, assuming operating expenses approximating current operating costs and 360 revenue days.

Navios Partners said it will finance the acquisition with cash on its balance sheet and bank debt on terms consistent with its existing credit facilities.

In late April, the company also signed an agreement to buy a 2010-built Capesize bulk carrier. Featuring 178,132 dwt, the vessel was bought from Italy’s shipping firm Rizzo Bottiglieri for a price of USD 27.5 million.

In the first four months of 2017,  Navios Partners inked deals to acquire four drybulk vessels – two Panamax and two Capesize bulkers – with a combined capacity of about 500,000 dwt.

In addition, the company agreed in April to acquire the entire container fleet consisting of fourteen ships from Rickmers Maritime for about USD 113 million.

Following the latest acquisition, Navios Partners will control a fleet of 34 vessels.

Additional report from World Maritime News

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Maritime First