Lagos Deep Offshore Logistics Base (LADOL) has emerged winner of the Sub-Saharan African regional free zones award and Winner of the Large Tenants award for Africa, in fDi magazine’s Global Free Zones of the Year 2015.
A statement explained that LADOL was also highly commended as African Free Zone of the year.
Winning the Large Tenants award, LADOL Free Zone, according to a statement by the company, was praised for increasing some 37.5 per cent capacity between 2013 and 2014.
The statement said, “Due to the high specification infrastructure, round the clock operations and focus on delivering transparent reliable service to the deep offshore oil and gas market, LADOL has been able to halve the cost of logistics support in Nigeria.
“This 50 per cent cost saving comes despite the fact that the facilities and equipment are all brand new.”
Two awards given to LADOL, which are ‘Commendation for self-sufficiency’, and ‘Commendation for infrastructure improvements’, according to the statement, were given for the first time and “reflect improvements such as the ongoing development of its new 24 MW power plant, due to come online in late 2017”.
fDi’s Global Free Zones of the Year celebrates zones that are best in class and which are reinvesting, expanding or upgrading.
LADOL Managing Director, Dr. Amy Jadesimi said, “The fDi awards review free zones from across the world, and for LADOL to receive these awards and be recognized in this way is a testament to the great work that the local team has done in putting our free zone on par with the world’s best.
“LADOL is proud to be one of many significant infrastructure projects in the region that is changing the dynamics of the Nigerian economy, and facilitating business domestically and attracting business from international markets.”
The $500 million LADOL Free Zone is a newly developed village with strict access control, while infrastructure in the zone ranks among the most robust and most secure in West Africa.’