Japaul wins $48.3m contract
2008
Japaul won $48.3m contract, we have just succeeded in winning a new contract for dredging and other marine services with Shell and the contract will be executed within the next two years. The facilities & equipment that are required for the successful execution of the job are virtually on ground and other ones that will be hired to compliment the existing equipment are already ordered for.
This is another milestone of successful story of Japaul and for the next two years income is guarantee for the company, additionally, there are other contracts that we shall be signing before the year runs out and they run into millions of dollars. This is an indication that we will be able to meet up with our various dividend projections for the year 2008 & 2009.
The management is committed to increasing & building up the shareholders fund and their wealth.
Development Project:
Japaul has commenced the development of our 700 plots of landed property with adjourning 600m waterfront in the prime area of Port Harcourt where the main operation of the company will eventually be located. The facility shall contain among others:
• The maintenance facilities for our marine vessel. A 2000 tons floating dock
• World class fabrication facilities for fabrication of modules, jackets, LPFO topside and other steel structures that are used to aid production of crude oil at sea
• 350m X 200m pipe stacking area
• Fuel tank of about 100,000tons capacity for fuelling of our various vessel and sales to other vessel owner
• Water supply facilities for supply of water to various marine equipment for all operations
• Various drilling fluid tanks
• Ten blocks of warehouse
• Loading quay with load bearing capacity of about 200tons
• Office complexes, workshop, power houses and communication towers and many more facilities
The implantation of the project may take about 3-5years to complete, at the completion, Japaul will be at a position of earning more than $1billion annually.
Our dream for continuous growth is very real and our vision to become The Giant in all aspects of our business endeavor is very clear and there is no single doubt in our mind that we shall dominate Oil & Gas in all aspect of our business endeavor is very clear and there is no single doubt in our mind that we shall dominate Oil & Gas upstream in the foreseeable future.
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