FG To Set-up $16b Petrochemical Plant At Koko Delta State

Posted by Cash On on 2013-08-01 0

THE setting up of Petrochemical plant and Gas processing facilities to be cited at the Koko Free Trade Zone FTZ, capable of generating 16 billion dollars investment is in the pipeline, says Delta State Commissioner for Transport, Mr. Benson Igbakpa.

He disclosed this in Asaba yesterday when he took his turn at the ongoing Mid-Term report by members of the State Executive Council (Exco).

According to him, “the Federal
Government has appointed a team of consultants to commence preliminary site inspection of a petrochemical plant and gas processing facilities to be cited at the Koko FTZ.

“It is envisaged to emerge as Africa’s largest industrial complex.

They arecurrently working in conjunction with the Nigerian Port Authority, NPA  and the State government to tackle the siltation and draught problem so as to get the required draught to allow large vessels across the Delta ports and the Koko FTZ.

“The massive undertaking which is
projected to generate up to $16 billion (sixteen billion dollar) investment”, he went on, “entails the construction of 1.3 million tone per annum polypropylene and polyethylene plants to be built byXenel of Saudi Arabia in concert with NNPC and other investors. Three fertilizer plants each with capacity of 1.3 million tones per annum are also to be located within the Koko Free Trade Zone”, he state.

Source : vanguardngr