Ladol bars Samsung from Egina yard

LAGOS, September 10, 2018 – Ladol has barred Samsung Heavy Industries from its free zone in Nigeria, local media reported Sunday.

Ladol cited an expired operating licence as grounds for the ban from Ladol Free Zone, daily The Guardian reported.

Ladol managing director Jadesimi Ladi said in a statement that her company had filed a suit at the Federal High Court alleging “mischief and reckless disregard for stakeholders” by Samsung.

“Samsung has brazenly and persistently flouted Nigerian laws and breached contracts it duly signed with Ladol and its affiliates,” Premium Times quoted the statement as saying.

Ladol was performing the local contract requirements for Total’s USD 3.8-billion Egina project together with the Nigerian subsidiary of Samsung Heavy Industries. The two companies entered a joint venture, the SHI-MCI Free Zone Enterprise in Lagos, to build a new construction facility at the Ladol Free Zone large enough to integrate the Egina FPSO and fabricate 1,000 tonnes per month. The Egina FPSO set sail for the offshore field last month.

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