Delta’s $20bn Ogidigben industrial gas park gets TWC as foreign investors surge
Interests of foreign investors to the emerging $20 billion Ogidigben Gas Revolution Industrial Park in Delta State have continued to rise even as civil and engineering works on the second phase of the scheme is underway.
This followed the recent inauguration of the Technical Working Committee (TWC) for the project by the Minister of State, Petroleum Resources, Dr. Emmanuel Ibe Kachikwu at a recent Steering Committee session for the project held in Abuja.
The ministry in a statement made available to Business Hilights on Monday, revealed that the TWC comprises representatives from the lead developer, Alpha Grip Management Company (AGMC), led by Alpha Group from the United Arab Emirates (UAE) and its consortium partners like Power China.
Other investors in the deal include leading energy conglomerates from Korea and China, along with the Nigerian National Petroleum Corporation (NNPC), Nigerian Export Processing Zones Authority (NEPZA), Nigerian Ports Authority (NPA) and the Delta State government.
The minister charged TWC to speed up the scheme for early delivery considering the rising relevance of gas in the world economy.
In his remarks, the Managing Director of AGMC, Mohamed Bayorh, who led the developer consortium hailed Kachikwu for what he described as visionary leadership and his burning desire to see that the project is completed on schedule.
He encouraged stakeholders’ to work together in resolving observed major issues delaying the project such as adequate gas allocation and sand filling of the site for development of concrete structures and piping.
High point of the inauguration is the presentation of AGMC’s development and implementation plan for the Gas Revolution Industrial Park to the Steering Committee.
According to him, the consortium has pooled over $10 billion, which was used for the successful first phase take-off of the project.
