Intels, Orleans generate 6.7bn dollars for Govt in 30years

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Lagos -Integrated Logistics Services (Intels) Ltd., a major oil and gas cargo handling company and its holding company, Orleans Invest, generated not less than 6.7 billion dollars (N1.31 trillion) for Federal Government in 30 years.

Whatapp NewsTelegram News

The Spokesman of Intels, Mr Isidore Sambol, who made the disclosure while speaking with newsmen on Wednesday in Lagos said, Intels and Orleans had contributed immensely toward the economic growth of the nation.

He said the revenue was generated through separate development activities of the companies at the Onne Oil and Gas Free Trade Zone in Rivers.

Apart from revenue generation, Sambol said Intels and Orleans Invest had also attracted a 7 billion-dollar (N1.37 trillion) worth of Foreign Direct Investments (FDIs) into the country.

He said Intels, which began operations 33 years ago in Nigeria had created about 8,000 direct employment and 15,000 indirect employment opportunities.

Sambol said Intels had achieved substantial transfer of technology with strict adherence to the Nigerian content development policy.

He said that not less than 170 other companies had been carrying out various kinds of businesses at the Onne Oil and Gas Free Trade Zone and supporting the upstream and downstream sectors of the country’s oil and gas sector.

Sambol said the 170 companies had generated a total of 20,000 direct employment opportunities and 50,000 indirect job opportunities.

He said the zone had contributed so much in the efforts to put the country in the oil and gas map of the world.

According to Sambol, the zone has been adjudged as the single largest and fastest growing free trade zone dedicated to the oil and gas industry globally.

The Intels spokesman said that part of the infrastructure development project was being carried out in the zone.

Sambol said this would soon lead to the inauguration of Onne Port Multi-Centre of the Orlean Invest..

According to him, this will comprise a 120-bed five star accommodation facilities; a 1,200 seating capacity international conference auditorium and 200-seater meeting rooms, a training academy and an exhibition hall.
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Sambol said the other infrastructure development projects in the zone include the standardisation and expansion of Phase 4B of the Onne Port Complex.

He said these include: dredging and reclamation works for the construction of an additional jetty with 12 to 19 berths and a 12-metre draft at low water tide.

Sambol said the phase 4B of the port complex also comprised: 600 hectares of industrial area as well as an inner channel and turn basin embarked upon by Deep Offshore Services Nigeria Ltd.

He said the community development programmes of Intels would include: free health services to host communities, women development and empowerment programmes and youth development projects, expected to gulp millions of naira annually.

Sambol said these were being sustained even when the financial fortunes of the company declined because of reduced activities at the ports.

He urged the Federal Government to look into the immediate and remote causes of why business activities were declining at designated terminals and ports for oil and gas cargo.

Sambol said this was meant to avoid further drop in the revenue that Intels had been generating for the nation. (NAN)


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