Notore Industrial City Presentation by the Oil and Gas Free Zones - - PowerPoint PPT Presentation

Notore Industrial City – Presentation by the Oil and Gas Free Zones Authority Nigeria

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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

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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

• perating 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.

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Opportunities in Notore Industrial City

There are currently

• pportunities 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…

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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.

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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
• perating from the zone.

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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

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Key Features cont.

• Availability of Warehouses

and workshops

• Fire-fighting station with
• perational fire trucks
• Laydown areas with open

storage

• Fully furnished office buildings
• Helipad
• Camp accommodation with

swimming pool, bar, gym and international restaurant

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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

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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

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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.

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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).

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Government Incentives For Investors In O&G Free Zones

IMMIGRATION INCENTIVES

• Immigration fast track

procedure.

• STR Visa is regularized on

arrival of applicant at the Free Zone by the Free Zone Immigration Unit.

• Expatriates on Free Zone

Status must work and reside within the Free Zones only but can attend meetings or/and conferences outside the zones

• n call time basis.
• No quota regime for

expatriate employment.

TAXATION

• No value added tax;
• No withholding tax;
• No corporate tax;
• No capital gains tax;
• No Federal, State, and Local

Government taxes

• 100% foreign ownership
• 100% repatriation of profit &

dividends

• 100% repatriation of foreign

capital investment

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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.

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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)

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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

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ONNE OFFICE Marble House Federal Ocean Terminal (FOT) P.M.B 5474 Onne Port Complex, Rivers State, Nigeria

Contact Details

ABUJA OFFICE 4 Pope John Paul II Street, Off Gana Street, Maitama Abuja, Nigeria +234 (0) 909 111 1184, +234 (0) 909 111 1185 www.ogfza.gov.ng contact@ogzfa.gov.ng

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