By Chijioke Ohuocha
LAGOS, June 19 (Reuters) - Nigeria Liquefied Natural GasCompany (NLNG) is sponsoring the construction of the first majorship yard in Africa's biggest economy at the cost of $1.5billion, in its attempt to turn the country into a hub formaritime operations on the continent.
Nigeria is the world's eighth biggest crude producer andAfrica's top oil exporter but it does not have a drydock formaintaining and repairing large crude vessels, a major drawbackfor carriers sailing to the country, NLNG spokesman Tony Okonedotold Reuters.
Only South Africa had such a facility on the continent,Okonedo said, meaning that ships travelled a long distance forrepairs. Nigeria has two facilities that can only accommodatesmall vessels, he said.
Okonedo said Samsung Heavy Industries andHyundai Heavy Industries have both agreed a $30million commitment towards the construction of the facility,which would be located in Badagry, near Nigeria's commercialcapital of Lagos.
"It could potentially be used to transport the 2.5 millionbarrel a day crude business in Nigeria," Okonedo said on thesidelines of a media briefing. (Reporting by Ohijioke Ohuocha; Editing by Toni Reinhold)