Business Wire

Notore Chemical Industries: Nigeria's New Oil and Gas Free Zone “great opportunity” to Boost Foreign Investment

Jaa

The creation of a new Oil and Gas Free Zone in Nigeria will become Africa’s largest petrochemical processing hub - paving the way for renewed foreign investment in the region.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171221005015/en/

Notore Chemical Industries: Nigeria's New Oil and Gas Free Zone "great opportunity" to Boost Foreign ...

Notore Chemical Industries: Nigeria's New Oil and Gas Free Zone "great opportunity" to Boost Foreign Investment (Photo: Business Wire)

Nigeria’s Oil and Gas Free Zones Authority (OGFZA) conferred Oil and Gas Free Zone Developer status on homegrown company, Notore Chemical Industries Plc (Notore), an agro-allied, chemicals and power company, earlier this month.

The new free zone enterprise, Notore Chemical Industries FZE, will create an oil and gas processing hub in Onne, Rivers State, which will be one of the largest in the region, boosting Nigeria’s status as a global player in the market.

OGFZA Managing Director, Umana Okon Umana, says the government hopes the project will attract significant foreign direct investments (FDI) and create up to 15,000 jobs. He indicated that the Authority will ensure that an ‘enabling environment’ is provided for investors in the Free Zone, by ensuring that incentives provided by law are accessed.

Speaking at the licensing ceremony, Notore Group Managing Director, Onajite Okoloko, said their Free Zone Developer status will bring “great opportunities” for Nigerian and international investors.

“They will be impressed by over 559 hectares of land, a dedicated gas pipeline, 50MW of embedded power plant, more than 2km of shoreline and 7500 sq m of jetty dock. Investments in the Free Zone will be free of corporate, income and associated import taxes.” Okoloko went on to say that Notore’s free zone development will help to diversify Nigeria’s economy, supporting the country to become Africa’s leading petrochemicals hub.

Prior to the Free zone award, Notore had entered into a strategic gas sales agreement with Eroton Exploration & Production (Eroton) which holds over 4.0 trillion standard cubic feet of natural gas located 14 kilometers away from the Notore site. It is anticipated that access to significant gas from Eroton, alongside the Notore Free Zone with its port and logistics infrastructure, will create the right environment for the petrochemical development.

Notore has commenced discussions with Mitsubishi Corporation on developing a methanol plant at the site and is seeking alliances with other petrochemical, oil and gas logistics and infrastructure companies and financial and strategic investors to participate in developing the Free Zone.

Okoloko describes OGFZA as a very important enabler of industrialization in Nigeria, adding: “This zone will diversify the company’s focus on refining, methanol, power, E&P logistics and hydrocarbon processing. I also hope that it will spur wider growth in the Nigerian economy, moving economic activity towards the higher end of the value chain. We look forward to continuing to work towards the achievement of Notore’s goal of being a world-class industrial complex.”

Ends

Contact information

Notore Chemical Industries
Ngozi Mba – Head, Corporate Communications
Email: Ngozi.Mba@notore.com

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista jo ennen kuin ne uutisoidaan? Kun tilaat tiedotteemme tältä julkaisijalta, saat ne sähköpostiisi yhtä aikaa suomalaisen median kanssa. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

The 6th Annual World Patient Safety, Science & Technology Summit Kicked off with an Important Announcement about the Progress Being Made to Save Lives in Hospital Settings24.2.2018 13:00Tiedote

The 6th Annual World Patient Safety, Science & Technology Summit kicked off with an important announcement about the progress being made to save lives in hospital settings. Nearly 4,600 hospitals in 44 countries have committed to adopting patient safety processes that are proven to eliminate preventable deaths in hospitals. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180224005027/en/ England’s Health and Social Care Secretary, Rt. Hon. Jeremy Hunt, launches groundbreaking new measures on Day One of the 6th Annual World Patient Safety, Science & Technology held in London (Photo: Business Wire) The Patient Safety Movement Foundation has taken on an inspiring and ambitious goal of reducing preventable patient deaths in hospitals to ZERO by 2020. The annual Summit in central London plays a major role in taking on that challenge with the participation of 300 global leaders, medical experts, medical technology CEOs, and patient

WuQi Technologies is Latest Licensee of CCww’s NB-IoT UE Protocol-Stack Software24.2.2018 12:06Tiedote

Communications Consultants Worldwide Ltd. (CCww), global innovator of 3GPP® technologies, has licensed its NB-IoT protocol-stack software to WuQi Technologies Inc., a leading global developer of highly integrated mixed-signal SoC solutions, and the latest licensee of CCww’s NB-IoT Release 13 UE protocol-stack software. Communications Consultants Worldwide (CCww) is working with WuQi Technologies for the integration of its NB-IoT protocol-stack software onto WuQi Technologies’ highly innovative SoC. This relationship, catalyzed by T2M, is enabling the production of a highly integrated, very low power, NB-IoT SoC chipset targeting IoT Smart City, Smart Home, and wearable applications. CCww’s CEO, Richard Carter, said, “NB-IoT is CCww’s latest cellular Protocol-stack SW. We are excited to be working with WuQi to enable a sector-leading NB-IoT SoC, pushing back boundaries of performance and battery life for the next generation of IoT. See our demonstration at the Mobile World Congress (Hal

IDEMIA and Octo Telematics Reinvent Car Sharing Experience by Adding Facial Recognition to EasyOpen Solution23.2.2018 18:57Tiedote

IDEMIA, the global leader in Augmented Identity for an increasingly digital world, announces today that it has implemented facial recognition technology on EasyOpen, a solution previously developed with its partner Omoove, a wholly-owned Octo Telematics company, Europe’s leading Shared Mobility technology provider. The digital enrolment process combined with facial recognition technology will securely enroll and authenticate the driver before EasyOpen automatically opens the car. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180223005506/en/ (Photo: Idemia) You will never rent a car the same way thanks to EasyOpen solution that combines IDEMIA’s expertise in secure service enablement and Omoove’s experience in Shared Mobility platforms and on-board technology. The first version of the solution was launched last year and allows drivers, who have already registered on the application, to use their smartphones as a key to open

SM-Optics Unveils First FLEXSET Chip, Paving the Way to Optical Micro Nodes23.2.2018 17:00Tiedote

SM-Optics launches FLEXSET, a single chip embedding multiple processing functionalities raising the bar for performances, density and architectural flexibility. The FLEXSET is the heart of the Lightmode product family. FLEXSET OTN switching matrix scales from 300Gbps to 1Tbps and can be addressed by ports spanning from traditional low-speed services like 2Mbps over micro-OTN, to layer2 and layer3 over ODUFlex, 100G over ODU4 and 200G over FlexO. Thanks to its embedded capabilities including multi-technology OAM, packet processing, synchronization and fast protection functions, FLEXSET operates by design at the lowest latency performances and features an Intel Stratix 10 FPGA. Following the launch of micro-OTN, a revolutionary approach to efficiently extend OTN protocol to low speed services, the launch of FLEXSET advances the vision of a highly interconnected metro network and of micro nodes. Revolving around functional block elements, micro nodes collapse in few rack units OTN and pho

Bitcoin Miner HashGains’ Crowdsale to Build Green Cloud Mining Data Centers Receives Excellent Response23.2.2018 16:56Tiedote

HashGains.com, a leading cryptocurrency mining platform, has launched its crowdsale program to build mega cryptocurrency cloud mining data centers in India and Canada which uses renewable energy like wind and solar as source of energy. “With the growing worries around bitcoin mining causing environmental damage, difficulty levels of mining increasing and returns heading southwards, there was no better opportunity but to build green energy data centers which run on free sources of energy like wind and solar, ensuring handsome mining rewards while taking care of environment,” said Mr Anuj Bairathi, CEO & Founder, HashGains, who is crypto enthusiast himself. HashGains is a growing cloud mining platform with more than 10,000 active customers enjoying mining returns and is expected to reach the mark of 1 million customers by 2020. To handle such a massive growth and ever growing demand of customers, it becomes even more important that mega mining centers are planned which can serve needs of

Stratecast Recognizes CARDINALITY as a “10 to Watch in 2018”23.2.2018 16:07Tiedote

In their new report, “Digital Transformation Means New Tools for New Business” —part of the Global Operations, Orchestration, Data Analytics, and Monetisation (ODAM) stream—Stratecast recognises CARDINALITY for their new approach towards processing big data to deliver applications such as Customer Experience, Operational Intelligence, Network Analytics, Churn Management and Marketing Intelligence. Stratecast identified that the CARDINALITY Perception Platform brings large amounts of data from multiple CSP sources together in order to address a growing group of data analysis needs from different operational work teams and the wider business. It also does this at ingestion rates and storage levels previously thought not practical. "Using design principals tied to microservices and containerized solution components, the platform is a major advancement in meeting CSP data analysis needs at a price untouchable by previously-defined platforms," said Karl Whitelock, Stratecast director of glo

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme