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 are currently 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 by Xenel 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 stated.

http://www.vanguardngr.com/2013/07/fg-to-set-up-16b-petrochemical-plant-at-koko-free-trade-zone/

Good news but not excited about govt run business it should be a PPP.

Ok, they should be serious with the project.



.

I am more interested in the start date and end date. Since I can't see any in the post, all I can say is "TILL THEN".

We need actions not just talks.......

ijawkid: We need actions not just talks.......

Its not likely you will ever see any action. So you have to manage the talk.

When governments say they will........I wait till I see.

When Dangote says he will....... I know its complete!

Election time has come early
This goverment went china to grovel and beg for money recently .where will they get the money from
If you are going to believe this ,then you are going to believe anything.
All the usual suspects (oil coys) are packing their loads and bolting out of the door as quickly as possible.
Shell,the dominant company in nigeria,has a very light footprint
All shell needs to get out is to charter plane for the company's expatriate staff.
No smart private investor would risk such an amount money in the Niger "delta" something which has a long break-even point(apart from the federal).
Nigeria is considered a high borrowing risk in the bond market.borrowing from international banks will come with a very high interest rate .
I doubt many banks will even entertain giving such a collosal sum of money.
Lastly ,with the serious lack of electricity,
Wouldn't it make more sense to build a power FTZ to utilise or the wasted gases.
FOR THE ABOVE REASONS,YOU CAN SAY THAT ELECTION TIME IS UPON YS ONCE AGAIN AND GULLIBLE PEOPLE WILL ALWAYS BITE.AT LEAST THOSE IN THAT COMMUNITY WILL BELIEVE IT AND VOTE ACCORDINGLY.

Ooooh, Ooooh, fresh air is blowing me away

Would it reduce the price of 12.5kg of LNG (Cooking Gas) from N3,500 to N700 ??

Invest in Snail business today to get it high returns: http://wealthmeans..com/2013/06/wealth-in-snail-farming-business.html

Wats with this new layout of Nairaland? My eyes are hurting.

Meaning we have to vote for you in 2015 so u can start the project, right?

Rubbish..give us workable refienaries before dreaming up stupid petrochemical plants. Is it not shamefull that we have three refieneries. Non is working. We keep importing petrol. Very soon, ghana and cameron will buld refineries, collect our crude and sell back to us as petrol.

This government and empty promises sha ! E get as e be o

naijababe: This government and empty promises sha ! E get as e be o

That is what happens when election is around the corner

Fg to to to toto tototo tototot..............FG and toto hmm

ASUU on strike, Education 1st

Federal govt to...........

FG and outrageous amount of promises... They haven't finished building basic infrastuctures, they are focusing money on Petrojargons. Just 1 Billion Dollars is enough to end ASUU Strike for good but my "SENSIBLE" class captain called GEJ won't see to that than to make promises. Elections are near. I choose not to be decieved. Our government has failed Nigerians.

Mehn my eyes are fucking aching me! Seun u beta restructure dis ur new ui layout o! Its nt d best 4 dis site o. And images dnt load and pages load in slow pace.

Good Development

"Suspected Islamists steal 125 kg of dynamite in north Nigeria". Catastrophe in the making,oh God save your people.
"Videos shown to Reuters by a counter-terrorism official on Sunday showed Boko Haram militants giving detailed instructions on how to make bombs -- including a suicide vest and a car bomb -- in the northern Hausa language, filming how it is done."
source:http://news.yahoo.com/suspected-islamists-steal-125-kg-dynamite-north-nigeria-170737383.html

Wait

Ryabcool: FG and outrageous amount of promises... They haven't finished building basic infrastuctures, they are focusing money on Petrojargons. Just 1 Billion Dollars is enough to end ASUU Strike for good but my "SENSIBLE" class captain called GEJ won't see to that than to make promises. Elections are near. I choose not to be decieved. Our government has failed Nigerians.

you don't want petrochemical plants yet you complain of unemployment and underdevelopment?
Do you even know what a PTC plant is?
You are not serious.

Which one do I mention and leave others? it is not the most pressing need of this nation, it is an unbearably inflated contract for selfish interest, relatives of the ogas wether qualified or not will be employed for the good posts, masses that will work as gardeners will face delayed payment of their unsustenable salaries, the plant is like a China product that will soon fade off, etc. I cannot be deceived.

Another fraud fake long jump and looting mechanism

The federal government shouldn't be doing this. This is yet another avenue for criminals to loot the treasury. $16 billion seems to be the magic figure when government officials wish to steal.

I d hate dis kind of news