Economy

Africa’s biggest Petrochemical Plant to create 20,000 jobs in Bayelsa

The  Executive Vice Chairman, Brass Fertilizer and Petrochemical Plant, Ben Okoye says the $3.6 billion plant is expected to generate 15,000 jobs at the construction stage and 20, 000 at  the completion stage.

Okoye made this known on Wednesday in Yenagoa while receiving the certificate of occupancy for the land allocated for the plant construction on Brass Island in Brass LGA of Bayelsa state.

The certificate was presented by Bayelsa Governor,  Seriake Dickson.

According to Okoye,  the plant would accommodate methanol, urea, ammonia and gas processing and a-35km pipeline project.

Biggest private sector company in Africa

Describing the project as the single biggest private sector company in Africa with $1 billion equity fund, Okoye canvassed for support and cooperation of the state government toward the realisation of the project.

He expressed the optimism that the project would transform the state’s economy and that of Nigeria.

“Raising $3.5 billion in this clime is not an easy task; this is the first private sector investment in Africa that has attracted $1 billion equity fund.” Okoye said.

Enabling business environment

Dickson assured Okoye of his Administration’s readiness to sustain conducive environment for business and investments.

Dickson also announced a two-year tax holiday for the company aimed at facilitating investment.

He commended the management of the company for efforts, especially in the area of funding the plant project.

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