Thursday, May 30Nigeria's Authoritative Maritime News Magazine

Bayelsa Govt, IFDC signs MOU on 5 key projects


Bayelsa State Government and the International Finance & Development Corporation (IFDC) have signed a memorandum of understanding to invest in five different high impact and key infrastructural projects in different parts of Bayelsa State.

The USA-based IFDC is mobilizing funds and resources to invest and finance a 10 MTPA capacity LNG project, 35,000 – 45,000 barrels per day capacity GTL project, 500 MW Gas to Power plant and Deep Sea Port and Port city development projects in the State.

The preliminary estimated total project cost is $17.5 Billion USD.

The President and CEO of IFDC, Mr. Kazi H. Ahmed, mandated Mr. Michael Hartman, from Germany as representative of IFDC to tidy up the investment plan and sign the agreement with the Bayelsa State Government.

Mr. Hartman who is the chairman of Lupine, accompanied by Mr. Michael C. Keeling, the Legal Advisor of IFDC and owner of Keeling Law Offices in the USA, US-based Bayelsa-born facilitator, Mr. Enieye Tugba Wilson and Managing Director of Viv Limited, Viv Tonwe Pela, were all part of the deal that will create huge investment and jobs opportunities in the State.

On the part of Bayelsa State Government, the Commissioner for Mineral Resources, Dr. Ebieri Jones and the Attorney-General and Commissioner for Justice, Mr. Biriyai Dambo, SAN signed the MoU with the Deputy Chief of Staff, Dr. Peter Akpe, standing as a witness.

The facilitator, Mr. Enieye Tugba Wilson, who led the team of the investors said the five projects would change the stories of Bayelsa State with huge revenue for the State and creation of about minimum 40,000 jobs in the State.

The Commissioner for Mineral Resources, Mr. Ebieri Jones, had earlier led the IFDC visiting team to meet with the Governor, Senator Douye Diri, where they briefed him on the investment opportunities.

Gov. Diri, was said to have been very excited at the projects and assured the investors of the government preparedness to provide the enabling environment for the projects to commence immediately.