Nigeria to set up $16b petrochemical plant at Koko FTZ

Warri Industrial Park31 July 2013 – 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.

On issue of ban on commercial motorcycles otherwise known as okada in the State, the Transport Commissioner said that the next phase of cities to be slammed with the restriction was still in the offing but entirely the prerogative of the state governor to give a go-ahead.

Governor Emmanuel Uduaghan, had sometime ago given the indication that the State government would extend the ban to other towns as soon as it is set to flood the areas of tricylces. Presently, the ban is effective in Asaba, Warri and Uvwie .
*Augustine Ogwuda, Vanguard

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