• Thursday, December 07, 2023
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BusinessDay

JV’s launches Hoses & Fenders for downstream operations

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In a bid to stimulate industrialisation in Nigeria, WAO Global and Zech Oil, in collaboration with Yokohama Rubber Company Limited, Japan, did a presentation in Lagos, Nigeria’s commercial capital, of new technology driven Marine Hoses and Fenders to stakeholders in the oil and gas industry.

The formal presentation was made by the duo of Shunichi Ono, chief engineer in charge of marine products, Industrial Products Technical Department and Hiroshi Funakoshi, assistant manager in the Industrial Products Global Sales & Marketing Dept, Yokohama Rubber Company Limited, Japan.

Explaining the new thinking, John Gbasa, President, WAO Global Trading Limited, a Nigerian company, said the message which the presentation was passing across is that more and more investors are getting interested in Nigeria because the country has growing opportunities and that more manufacturers are coming to look into the country to see where they can set up their manufacturing outfits.

“This is a positive development that prospective manufacturers are coming and they are looking at Nigeria as a viable investment destination of the future and the rightful place to invest in,” Gbasa said.

Global businesses are looking for investment opportunities in Mexico, Indonesia, Nigeria and Turkey (MINT) and they are considered as countries that hold higher returns on investment to all manufacturers and all industrial outfits, according to Gbasa.

Throwing more light on the presentation of the new hoses and fenders product lines, he said prior to new hoses and fenders presentation, what was in existence was the GMPHOM 1991 (Guide to Manufacturing and Purchasing Hoses for Offshore Mooring), which was the guide in manufacturing of hoses , which had become invalid in 2012.

“In its place we have the Gmphom 2009 which is now the new guide and Yokohama conforms 100 percent to this Gmphom guide and they took time, about three years to develop the technology and they are here to showcase it for the safety of the Oil and Gas industry,” Gbasa said.

Answering questions on what percent the newly launched hoses and fenders can help prevent oil spillage if adopted, the company chief executive said the new products can prevent oil spillage by about 50 percent.

On whether the new product has been tested in the Gulf of Mexico on or any part of the world, John Gbasa explained that the new technology has been tested because the hoses are in use in the oil industry including Nigeria.