INTELS set to increase investment portfolio in Rivers

Foremost logistics company, Integrated Logistics Services Limited (INTELS) said it looks to increase investment portfolio in Rivers, a state where it has already invested billions of dollars in logistics facilities, port terminal and oil and gas.

Gabrella Volpi, president of the INTELS Group, while addressing Governor Nyesom Wike, who toured the group’s Oil and Gas Free Trade Zone (OGFZ) at Onne near Port Harcourt, said the company is ready to increase its investment portfolio in the state.

More than 200 foreign companies operate oil and gas related business at the OGFZ, said to be one of the biggest oil and gas free zone in the world.

In 2014, total investment in the oil and gas free zone was $8 billion, with more than 3,000 jobs in tow.

Volpi expressed happiness that the company has enjoyed a favourable working environment in Rivers State; stating further that INTELS Group would cooperate with the Rivers State Government to advance the state’s economy.

Meanwhile, Governor Wike said the state government is working out a partnership framework with Intels group that would support investors to create employment opportunities for people of the state.

Speaking after a facility tour of the OGFZ, Onne operated by the INTELS Group on Sunday, Governor Wike said the state government has developed an enabling environment to attract major investors to the state.

He said, in view of the dwindling economy of the nation, it is in the interest of the state to build partnerships with investors to develop the state’s internally generated revenue to fund other areas of development.

“We will always support investors to help in the development of the state. Their investments will help in creating employment opportunities for indigenes of the state. It is in our interest that investors are not discouraged to come to the state. That is why we are always creating the right platforms for them to invest,” said Wike.

He commended the INTELS Group for its massive investments in Rivers State, which he said have impacted positively on the economy of the state.

 

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