Lagos: A giant shipyard complex is set to be built in Nigeria. Nigeria Liquefied Natural Gas Company (NLNG) will spend $1.5bn building the repair site. It is expected to tap Korean expertise to help built it. Both Hyundai Heavy Industries and Samsung Heavy Industries have committed $30m each to the project, Reuters reports.
Nigeria has two ship repair yards, but they can only handle smaller ships. Larger vessels needing repairs on the African continent normally have to head to South Africa.
The new yard, which will take four years to construct, will be located in Badagry, near Nigeria’s commercial capital of Lagos.