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Technova Plans $200m Line Pipe Mill in Nigeria


News » Business
Nigeria

IMAGE: Technova »

June 25, 2013

 

The Nigerian content initiative of the Federal Government has received a big boost as Technova Africa Group (TAG) Limited, will this week perform a groundbreaking ceremony for a 200,000metric tonnes per annum (MTPA)-capacity line pipe mill and coating facility in Nigeria.
The project, which will be the first of its kind in Nigeria and the West Coast of Africa, will be implemented in two phases in Ologbo area of Edo State at a total of $200million.
The company said in a statement at the weekend that it was venturing into Helical Submerged Arc Welded (HSAW) line pipe manufacture and coating in compliance with globally accepted standards.
According to the company, the project seeks to replace imported welded steel pipes with cheaper steel pipes manufactured in the country.
To implement the project, the company has purchased 150 acres of land situated in Ologbo and has also signed a multilevel Original Equipment Manufacturer (OEM) and Service Agreement with PSL Limited, the largest HSAW Pipe manufacturer in India for the purpose of institutionalising a fully integrated Line pipe Mill and Coating Plant in Nigeria.
Technova also intends to build a 10megawatt-capacity independent gas -powered generating plant as well as a private jetty to power the facility and facilitate the supply and delivery of raw materials as well as evacuate finished products in its phase II.
TAG Limited, a 100per cent indigenous company, is a credible and strong partner to the oil and gas industry seeks to drive the Nigerian Government’s mandate on developing its own content for national growth.
The company is an indigenous energy and infrastructure company with experience in construction, engineering, project management and service delivery.
The company has under its group six subsidiary companies namely; Technova Construction Nigeria Limited, Technova Energy Nigeria Limited, Technova Line Pipe Mill Limited, Technova Coating Facility Limited, Technova Pipeline Systems Limited and Technova Energy East Africa (Uganda) Limited.
Since the Nigerian Content Act was enacted in 2010, many indigenous professionals have built capacity and proved their mettle in the execution of technically-tasking projects, resulting in the domestication of a large chunk of industry jobs in-country.
The predominant message captured in the Nigerian content Act is development of local capacity and some Nigerian indigenous firms have demonstrated their determination to pursue this goal in their quest for partnerships and by building capacity.

 

Article Credit: Thisday Newspaper

Updated 5 Years ago
 

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