Oil majors fine-tune plans for Nigerian gas project

Feb 08, 2007 01:00 AM

A consortium of ChevronTexaco, Shell, British Gas and NNPC has concluded arrangements for the take-off of the 30-mm tpy Liquefied Natural Gas (LNG) plant. The $ 7-bn project will commence operation before the end of the second quarter of this year at Olokola (OK) Free Trade Zone.
The Ondo Commissioner for Commerce and Industry, Chief Bode Sunmonu, said in Akure that "at the construction stage, OK LNG will require the services of 4,500 engineers and technicians".

Sunmonu said at a ministerial press briefing that the pioneer housing camps alone would host 20,000 people and generate more than 60,000 employment opportunities. The commissioner explained that the gas plant would further make the OK Free Trade Zone attractive for gas-related industries for easy assess to the feedstock.
He said the free trade zone was an integrated multipurpose project made up of a free trade zone, a deep sea port complex and an oil and gas logistic base covering 10,000 hectares. The project, jointly promoted bythe governments of Ondo and Ogun states, was one of the ventures conceived by the Ondo government to serve as a catalyst to the economic development of the two states, he said.

The port complex, the commissioner noted, was "to provide a break-water inland harbour, a linear quay measuring 1,750 metres, a container yard, gantry cranes and operation buildings, among others.
The Ondo State government was developing an assess road from Igbokoda to link the free trade zone at a cost of N 19 bn, he said. He explained that the first phase of the road project covering about 39 km was nearing completion.

He announced that contract for the land use map for the zone, which would facilitate plot allocation to potential investors, had been awarded at the cost of N 35.3 mm. Some potential investors had already indicated their interest in it, Sunmonu said. Plans had also been conclude to link the free trade zone with Lagos by road.
Upon completion, it would take only 45 minutes to travel by road from Lagos to Ondo State, the commissioner said. When the road and deep sea projects were completed, it would reduce congestion in the Lagos ports, he said.

Source / Daily Trust
Alexander's Commentary

Change of face - change of phase

In the period of July 20 till August 3, 2015, Alexander will be out of the office and the site will not or only irreg

read more ...
« February 2020 »
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29

Register to announce Your Event

View All Events