BEVERLY HILLS, February 28, (THEWILL) – Acting President Yemi Osinbajo on Monday said the federal government has kickstarted a plan to establish a gas industrial park valued at about $20bn in the Niger Delta region, adding that the public-private partnership project would be a regional hub for all gas-based industries.
The initiative termed: Gas Revolution Industrial Park, GRIP, Ogidigben, would cover 2700 hectares of land 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 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 the Nigerian National Petroleum Corporation, 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, and Forcados, located within a 50km radius and will be connected to Nigeria’s most dominant gas pipeline network-ELPS, enabling supply of gas to and from the park.
Speaking while meeting with international developers and investors of the project at the presidential Villa, Abuja, Osinbajo said the Buhari administration “is committed to the development of the Niger Delta, and the importance of this project is underlined by the presidential attention it is attracting. The presidency is very interested.”
“We already have a Steering Committee in place, chaired by the Honourable Minister of State for Petroleum Resources and that shows the level of our commitment. We are unwavering,” he said.
The Acting President disclosed that “we take the project very seriously and glad to see you are committed and ready to make several other commitments. This is a process that we intend to see happen.”
A statement issued at the end of the meeting stated that “the building of an industrial gas hub in Ogidigben, Delta State was one of the feedbacks that were received during the visit to the state.”
Osinbajo had at the instance of President Muhammadu Buhari embarked on visits to oil-producing communities in the Niger Delta to demonstrate the resolve of the administration in the pursuit of a new vision for the region.
The statement added that “as a follow-up on the Niger Delta trips, Acting President Osinbajo, alongside the Honourable 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 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 $20B would be invested to develop the Gas Revolution Industrial Park, and generating 250,000 direct and indirect jobs in the process.”
Speaking earlier in the meeting, the Minister of state for Petroleum Resources, Kachikwu expressed confidence that the GRIP would bring the much needed succour to the people of the Niger Delta, and the oil-producing states.
On his part, the leader of the group of investors and developers, Sheikh Mohammed Bayo emphasised the commitment of the consortium, noting that the project would help in resolving the Niger Delta crisis.
