…Tasks Firm On Expansion Into Downstream

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The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB) Engr.Simbi Wabote has advised Benkline Nigeria Limited to expand its operations to the downstream subsector and the manufacture of components for modular refineries planned by various investors.
Wabote, who stated this recently when he led the management of the board and representative of international and indigenous operating companies on a facility tour of the firm in Port Harcourt, applauded the firm’s capacity to manufacture and maintain components used in the Oil and Gas Industry.
While explaining that the company has capacity to manufacture pumps for modular refineries, he commended Exxon Mobil, Total Exploration & Production and Nigerian Agip Oil Company for patronising Benkline and giving it a seal of competence, which, he said, would encourage indigenous producing companies like Aiteo and Eroton to also support the firm.
On Benkline’s request to access the Nigerian content intervention fund, the executive secretary stated that the fund could be accessed by all qualified companies and assured of the board’s support for the company’s growth plans.
He explained that four product lines of the NCI Fund are tailored to support manufacturing contract financing, loan refinancing and asset acquisition. The facilities attract eight per cent interest rate repayable over five years.
Community contractors could also access N20 million repayable with five per cent interest over five years.
Earlier, the Chairman of Benkline, Mr Terry Ossai, said the company’s core services include pumps and rotating equipment services as well as mechanical and repairs maintenance