A team of investors have inspected facilities at the site of the proposed Export Processing Zone in Koko in the Warri North Local Government area of Delta.
The investors, which included, Saudi Arabian Xenel Group, Indian Nagarjuna Group and Nigerian Sahara Energy Group, plan to establish multi-billion dollars petrochemical plant, fertiliser plant and gas processing facility in the complex.
The leader of the team, Dr David Ige, told newsmen after the inspection of the site, that Xenel, one of the leading petrochemical companies in the world, would build petrochemical plant at thesite.
Ige, who is Executive Director (Gas and Power) at the NNPC, said that the Xenel would work with NNPC to produce about 1.3 billion tonnes of polypropylene per annum at the site. According to him, this will mark the beginning of industrial revolution not only in Delta, but in the entire country.
Ige said that the Indian Nagarjuna group would build three fertiliser plants in the state, each of which would have capacity to produce 1.3 million tonnes per annum. “In addition to the fertiliser plants, there will be blending plants across the country.
“The purpose of the blending plants is to blend fertiliser to the specific soil requirements in each of the location to increase the agricultural productivity of the place,” he said.
Ige said the expectation was that the investment would usher Nigeria into self-sufficiency in food production and make it a net exporter of fertiliser and boost the nation’s Gross Domestic Product (GDP). He said that the two plants would start operating before 2015 and that a gas processing facility, which would support the plants, would be set up by Sahara Energy.
Ige said that the facility would have capacity to process about one billion cubic tonnes of gas per day. “The dry gas to be produced from it is what will be used as feed stock to the fertiliser plant and power plant,” he said.
Ige said that the inspection was a critical landmark in the investment journey, adding that it afforded the investors to have a view of the export free zone, the port and the Benin River.
He said that the NNPC, working in concert with the state government and the investors, would commence engineering works at the site in the next four weeks while construction would start within few months.
“This is a very critical and crucial beginning for us in this project. Mr Obumneme Onuenyenwa, the Ports Manager, had earlier briefed the team on the strategic position of the Delta Ports. Onuenyenwa said that the Delta Port had capacity to handle different kinds of vessels, adding that the port was being underutilised.
He urged investors to take advantage of the great potentials of the port to do business. Chief Victor Nana, the Community Head of Koko, who received the team in his palace, assured the team of the community’s support and cooperation.