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Osinbajo meets with Investors of $20B Ogidigben Gas Revolution Industrial Park
Vice President Yemi Osinbajo has met with the foreign investors of the the Gas Revolution Industrial Park, GRIP, Ogidigben, Delta State.
The Gas Park which is valued at about 20 Billion US dollars will cover 2700 hectares with fertilizer, methanol, petrochemicals, & aluminium plants located in the park that has already been designated as a Tax Free Zone by the Federal Government.
When completed, GRIP will generate 250,000 direct and indirect jobs in the process and affect the development of the Niger Delta region positively.
Osinbajo broke the outcome of the meeting with the investors on his official Facebook page as highlighted below;
“Before President Muhammadu Buhari went on vacation, he mandated me to embark on visits to oil-producing communities to demonstrate the resolve of this administration to the pursuit of a new vision for the Niger Delta.
Following the renewed interactive engagements of the Federal Government with oil-producing communities in several states in the Niger Delta region, a plan to put in place a gas industrial park that is valued at about $20B through a Public-Private Partnership model is now in process.
The Gas Revolution Industrial Park, GRIP, Ogidigben, will be a regional hub for all gas-based industries, the project will cover 2700 hectares with fertilizer, methanol, petrochemicals, & aluminium plants located in the park that has already been designated as a Tax Free Zone by the FG.
Today, I met with a group of international investors and developers put together under a consortium by Dubai-based firm, AGMC alongside Dr. Ibe Kachikwu, Minister of State for Petroleum Resources; Dr. Maikanti Baru the Nigeria National Petroleum Corporation Group Managing Director; and other top government and NNPC officials.
The consortium is made up of Fortune 500 companies like the GSE&C of South Korea, the China Development Bank, Power China and several others global operators from Asia and the United Arab Emirates in the Middle-East.
Under the plan presented today by the consortium, about $20B will be invested to develop the Gas Revolution Industrial Park which will generate 250,000 direct and indirect jobs in the process.
The industrial park will be a cluster of several industries in one location benefiting from an efficient, cost-competitive and abundant supply of natural gas, proximity to a deep sea port and centralized utilities, & services such as uninterrupted power, world class telecommunications and processed water.
The park, originally conceived by NNPC, is located about 60km from Warri, and is about 1km away from the operational base of Chevron Nigeria Limited. It will be connected to over 18 trillion Cubic Feet of gas reserves in fields such as Odidi, Okan, Forcados, located within a 50km radius. It is equally planned that the park will be connected to Nigeria’s most dominant gas pipeline network-ELPS, enabling supply of gas to and from the park.
Together, Nigeria will prevail.”
