Notore Industrial City – Presentation by the Oil and Gas Free Zones Authority Nigeria 1
Contents: • Page 3 - What an Oil and Gas Free Zone is • Page 4 - Opportunities in Notore Industrial City (NIC) • Page 5 - About NIC • Page 6 - Advantages of being situated in NIC • Page 7 - Key features and infrastructure in NIC • Page 9 – Notore Industrial City Services • Page 10 - The benefits & incentives of investing in an oil & gas free zone • Page 11 - The requirements for registering for a license 2
What is an Oil & Gas Free Trade Zone • A free trade zone is a geographical area designated by law, where the laws and regulations that are applicable in the Customs area are suspended. An oil & gas free zone in Nigeria is a zone where the licensed • enterprises that operate in the zone, focus on oil and gas activities. The Oil & Gas Free Zones Authority(OGFZA ) licenses, supervises • and coordinates the functions of the various enterprises that are operating within the export Free Zones • Licensed Enterprises in these trade zones enjoy special incentives, like exemptions from all federal, state and local government taxes as well as export/import duties exemptions. 3
Opportunities in Notore Industrial City There are currently opportunities for free zone developers and tenant investors in Notore Industrial City for: Multipurpose Jetty • Shipping and • vessel operators Dry docks/ Ship • Building Support Vessels • and Working Boats And more… • 4
About Notore Industrial City • Notore Industrial City (NIC) is located in Onne, Rivers State, Nigeria. The Anchor Tenant in Notore • industrial City is Notore Chemical Industries Plc, a nitrogenous fertilizer producer. NIC was granted a Free Zone • Developer (FZD) License in 2017 by OGFZA to operate and expand Onne Oil & Gas Free Zone. 5
Advantages of Moving Your Operations to Notore Industrial City • Notore Industrial City is positioned strategically along the Notore Channel with navigational access through the Notore Jetty to the Atlantic Ocean with over 2km of shoreline. NIC can be directly accessed by road via the federal highway to • the free zone. NIC is a predominately gas hub and logistics industrial base that • provides integrated solutions to companies operating in West Africa along the oil and gas chain. NIC will make adequate provisions for all Free Zone Enterprises • operating from the zone. 6
Key Features of Notore Industrial City The Notore Free Zone measures 560 hectares of land and only 120 • hectares of it has been utilized. Steady power supply (24 hours power supply) • Sustainable gas supply & dedicated gas pipeline • Over 2 km waterfront/shoreline • Existing fertilizer plant with 5000 metric tonnes • 24-hour security • Water and sewage treatment plant • 7
Key Features cont. Availability of Warehouses • and workshops Fire-fighting station with • operational fire trucks Laydown areas with open • storage Fully furnished office buildings • Helipad • Camp accommodation with • swimming pool, bar, gym and international restaurant 8
Notore Industrial City Services When completed, NIC will provide 24/7 solutions for cargo, vessels, barge, crew changes, project support, personnel support and more The following services currently exist in NIC: Berthing and Vessel Handling • Large Fabrication Works • Water and Fuel • Office Complex • Hotel/Accommodation • Health, Safety and Environment • 9
Benefits Of investing/being situated in an OGFZA free zone • Our O&G free zones are strategically located near major on- shore, offshore, ultra-deep projects, with easy navigational access to the entire Sub-Saharan West African Region • One-stop shop [including accelerated customs and immigration service] • Reduced cost of project execution • Efficient cargo handling • Warehousing, fabrication, office and residential facilities • Fiscal incentives 10
Government Incentives For Investors In O&G Free Zones CUSTOMS INCENTIVES No Form M required for importation into the Free Zone. • Fast-track cargo clearance procedures (pre-release on placement of • bank bond). Fast-track air freight cargo movement – international airports to free zones. • No time limit on cargo storage. • No custom duty applicable within the free zone. • No custom duty payable for goods exported from the free zone to other • countries. No custom duty payable on goods in transit from any part of entry in • Nigeria to the Free Zone. Goods may be stored indefinitely, sold, exhibited, broken-up, packed, • graded, cleaned, marked, loaded, unloaded, reloaded, divided, mixed, separated or otherwise manipulated. Goods may be worked, processed or reprocessed or otherwise • manipulated or manufactured. Goods may be consumed in the Free zone. • No import or export licenses required. • 11
Government Incentives For Investors In O&G Free Zones LOGISTICS AND SUPPLY CHAIN INCENTIVES • Waiver on pre-shipment inspection of goods (a current requirement for imports into Nigeria) • Faster clearance of goods (time and consequent cost savings) • Round-the-clock operations (eliminating costly delays) • Direct access to sea port and international airport (ensuring faster and cost efficient movement of equipment) • One-stop-shop (eliminating double handling of cargo, and the resultant cost savings) • Availability of support services: stevedoring, terminal and supply base operators, stockist, ship/boat maintenance etc. (Reducing delays and enhancing efficiency). 12
Government Incentives For Investors In O&G Free Zones TAXATION IMMIGRATION INCENTIVES Immigration fast track • • No value added tax; procedure. • No withholding tax; STR Visa is regularized on • • No corporate tax; arrival of applicant at the Free • No capital gains tax; Zone by the Free Zone • No Federal, State, and Local Immigration Unit. Expatriates on Free Zone Government taxes • Status must work and reside • 100% foreign ownership within the Free Zones only but • 100% repatriation of profit & can attend meetings or/and dividends conferences outside the zones • 100% repatriation of foreign on call time basis. No quota regime for capital investment • expatriate employment. 13
Government Incentives For Investors In O&G Free Zones ADDITIONAL INCENTIVES FOR (Manufacturing, Assembling, Processing) In line with the growing needs and requests by the market and global economy, some benefits have been extended to some sectors initially excluded from the incentives: Duty Payment on Raw Materials only. • Enterprises in the Free Zones are allowed to export into Nigerian • territory up to 100% of their products. The amount of import duties on goods manufactured, processed • and assembled in the Free Zones and exported into the Nigerian Customs Territory shall be the rate of duties applicable to raw materials in the state in which they were originally introduced into the Free Zones. All trades and commercial goods imported into the Free Zones in • finished forms, without value addition, shall attract full duty on export into the Nigeria Custom Territory. 75% Import Duty rebate. • 14
Requirements For License Registration Nigerian Registered Companies a. DPR Certificate for Non-Oil Producing Companies & LNGs b. Certificate of Incorporation c. Memorandum and Articles of Association d. Company Profile e. Contact Person, Designation, phone Numbers and Address of Company f. Report of the Feasibility Studies of the intended Investment in the Zone (Business Plan) g. Financial Profile & Personnel Profile h. Sources of funding (Local & Foreign) i. Companies last three years Audited Account (Not applicable to Companies less than one year in operation) 15
Requirements For Registration Offshore Companies a. Certificate of Incorporation or Notarized Copy of Overseas Incorporation b. Memorandum and Articles of Association c. Company Profile d. Contact Person, Designation, phone Numbers and Address of Company e. Report of the Feasibility Studies of the intended Investment in the Zone (Business Plan) f. Financial Profile & Personnel Profile g. Sources of funding h. Companies last three years Audited Account (Not applicable to Companies less than one year in operation) i. Affidavit issued by a Notary Public that the entity is Oil & Gas related Company. j. Official Confirmation from NPA / Terminal Operator of the facilities leased 16
Contact Details ABUJA OFFICE ONNE OFFICE 4 Pope John Paul II Street, Marble House Off Gana Street, Federal Ocean Terminal (FOT) Maitama P.M.B 5474 Abuja, Onne Port Complex, Nigeria Rivers State, Nigeria +234 (0) 909 111 1184, +234 (0) 909 111 1185 www.ogfza.gov.ng contact@ogzfa.gov.ng 17
Recommend
More recommend