The Bayelsa State Government and the International Finance & Development Corporation (IFDC) have signed a memorandum of understanding for investment in five key infrastructural projects in different parts of the State.
The USA-based IFDC is expected to mobilize 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. A statement from the State House said the preliminary estimated total cost of the project is $17.5 Billion USD.
According to the statement, the President / CEO of IFDC, Kazi H. Ahmed, mandated Michael Hartman, from Germany as representative of IFDC to tidy up the investment plan and sign the agreement with the Bayelsa State Government.
Hartman, who is the chairman of Lupine, accompanied by Michael C. Keeling, the Legal Advisor to IFDC and owner of Keeling Law Offices in the USA, and Managing Director of Viv Limited, Viv Tonwe Pela an intermediary between the Investors and the Bayelsa State Government, based in the Niger Delta, 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 witness.
A US-based Bayelsa-born agent, Enieye Tugba Wilson, who led the team of investors to the state for the signing of the MoU, said the five projects would change the story of Bayelsa State with anticipated huge revenue for the State and creation of at least 40,000 jobs in the State.
The Deputy Chief of Staff, Bayelsa State, Dr. Peter Akpe, earlier led the IFDC visiting team to meet with the Governor, Senator Douye Diri, where they briefed him on the investment opportunities.
Gov. Diri, is 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.
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