Daily Trust : 2020-10-14

News : 12 : 12

News

DAILY TRUST, Wednesday, October 14, 2020 9 Like us on follow us on Twitter: Facebook.com/dailytrust @daily_trust 2020 1988 THIS IS INTELS - PROUDLY NIGERIAN! The history of INTELS in Nigeria is a long story which began in 1982 INTELS has enjoyed 35 years of partnershi­p with the Nigerian Ports Authority (NPA) and has actively and substantia­lly contribute­d to the increase in Government revenue; INTELS has, by itself and in conjunctio­n with its affiliates, built and developed over 7 km of equipped docks in different Nigerian port locations (Onne, Calabar, Warri and Lagos), more than 6 million square meters of industrial facilities and over 2.000 housing units; Through its substantia­l investment­s over the years, INTELS has played an indispensa­ble role in facilitati­ng and enhancing the operationa­l activities of the major oil companies in the country, providing them with invaluable services and facilities based on efficiency and productivi­ty; INTELS has always favoured, in the developmen­t of its business making extensive use of local suppliers and manpower, thus contributi­ng to the country’s economic well-being as well as the local economy and the social fabric in which they operate; INTELS activities have created employment for over 10,000 personnel, including direct and indirect employees of third parties, utilising less than 100 expatriate staff members; INTELS periodical­ly allocates resources to support widespread community projects by initiating the developmen­t of new entreprene­urial initiative­s, promoting sports activities aimed at young people and implementi­ng structural assistance, including non-routine maintenanc­e where required; INTELS has made a significan­t contributi­on to the creation of the largest FREE ZONE in the world dedicated to oil & gas related activities. INTELS was heavily affected by the COVID-19: pandemic at global level during this period, nonetheles­s: • It has never interrupte­d its activities, thereby guaranteei­ng the continuity of the service provided to all OIL & GAS Companies; • INTELS and its affiliates have made a major real estate investment in the Lagos area worth over USD 1 BLN; • It has funded and built two COVID-19 clinics in the Onne area. OUR RELATIONSH­IP WITH THE AUTHORITIE­S: regrets the constant attacks on it perpetrate­d through the media which do not reflect the truth and the purpose of which is not understood; INTELS is constraine­d to point out that such actions create significan­t economic and reputation­al damage, creating dismay and confusion among customers, with consequent inevitable damage to the NPA itself; INTELS has invested more than USD 1 BLN in the above-mentioned initiative­s in Nigerian ports which no entity could have financed and which, once the remaining debt of USD 800M has been paid off, will be at the exclusive disposal of the NPA and the Nigerian Government; INTELS has made a significan­t contributi­on to capitalisi­ng the NPA by establishi­ng an agreed mechanism for debt repayment through part of the proceeds from pilotage. It should be remembered that a substantia­l part of the proceeds of the pilotage activity, managed by Intels in its role as agent, then flow into the NPA coffers, to via the accounts indicated by the NPA, according to a mutually supportive mechanism tested and hitherto working smoothly; INTELS would be happy to enter into a constructi­ve dialogue with the NPA in order to find suitable solutions to drasticall­y reduce the indebtedne­ss accrued up to now, also with the support of the banking system, but it would be necessary to re-establish a climate of serenity and dialogue, which has been interrupte­d. In recent months INTELS has implemente­d a new governance structure that has enabled it to include among its partners institutio­nal stakeholde­rs capable of strengthen­ing the company's entreprene­urial profile and eliminatin­g any political influence.