Nigerian govt mulls $20bn industrial gas project in Delta state

Nigerian govt mulls $20bn industrial gas project in Delta state
February 27 23:37 2017

The federal government is putting in place an industrial gas project valued at $20 billion through a public-private partnership as part if initiatives to fast-track development in the Niger Delta region, Senior Special Assistant on Media and Publicity to the President in the Office of the Vice President, Mr. Laolu Akande, said on Monday.

In a statement issued in Abuja, Mr. Akande said the Gas Revolution Industrial Park was  envisaged to be a regional hub for all gas-based industries.

He said the project would cover 2700 hectares with fertilizer, methanol, petrochemicals and aluminium plants located in the park that has already been designated as a Tax Free Zone by the federal government.

The statement reads: “Before he went on vacation, President Muhammadu Buhari had mandated the Vice President to embark on visits to oil-producing communities to demonstrate the resolve of this administration to the pursuit of a new vision for the Niger Delta.

“The building of an industrial gas hub in Ogidigben, Delta State was one of the feedbacks that was received during the visit to the state. As a follow-up on the Niger Delta trips, Acting President Osinbajo, alongside the Honorable Minister of State for Petroleum Resources; Dr. Ibe Kachikwu, the Nigeria National Petroleum Corporation Group Managing Director; Dr. Maikanti Baru and other top government and NNPC officials met today with a a group of international investors and developers put together under a consortium by Dubai-based firm, AGMC.

“The consortium is made up of Fortune 500 companies like the GSE&C of South Korea, the China Development Bank, Power China and several others global operators from Asia and the United Arab Emirates in the Middle-East.

Under the plan presented today by the consortium to the Acting President, about $20 billion would be invested to develop the Gas Revolution Industrial Park, and generating 250,000 direct and indirect jobs in the process.

“The industrial park would be a cluster for several industries in one location benefiting from an efficient, cost-competitive and abundant supply of natural gas, proximity to a deep sea port and centralized utilities, & services such as uninterrupted power,  world class telecommunications and processed water.

“The park, originally conceived by NNPC, is located about 60km from Warri, and is about 1km away from the operational base of Chevron Nigeria Limited. It will be connected to over 18 trillion Cubic Feet of gas reserves in fields such as Odidi, Okan, Forcados, located within a 50km radius. It is equally planned that the park will be connected to Nigeria’s most dominant gas pipeline network-ELPS, enabling supply of gas to and from the park.”