Investment In Onne Free Trade Zone Hits $6b

Minister of Information, Labaran Maku

EIGHT years into its operations, about $6 billion has been invested in the Onne Oil and Gas Free Trade Zone, Rivers State, where about 30,000 workers, including indigenes, are gainfully employed.

Speaking when the National Good Governance Tour visited the port at the weekend, Minister of Information, Labaran Maku, said the free trade zone initiative has attracted 150 companies.

He noted that the Federal Government established free trade zones to attract foreign investment to the country; create employment and transfer skills to indigenes of the locations.

The minister commended the employment opportunities created through the scheme.
He said Nigeria was adopting free trade zone, like China did, to grow economy.
Maku noted that the Onne industrial centre has attracted ship building companies and other investors, adding that the activities have a multiplier effect on the economy.

Meanwhile, the Omoku Power Plant in Rivers is to commence operation in December 2013.
The power station, which has the capacity to generate 250megawatt of electricity, was embarked upon by the federal government under the National Integrated Power Project (NIPP). It has attained 81 per cent completion.

Project Manager, Rockson Engineering, Basil Uzoh, who disclosed this when the National Good Governance tour team visited the project site, explained that the power plant would be run on gas to be sourced from Agip Gas Plant.
He noted that the plant was designed as a simple circle power plant with two units and has total capacity of 252 megawatts.

According to him, the power will be evacuated on two transmission lines built by the state government.

He said: “The Rivers State Government has built a transmission line from here to Port Harcourt. There will be an interconnection between the power plant and that of the state government. The transmission line is already existing and we will connect it with additional three towers that is to be built.”

He explained that because gas turbines have a high temperature exhaust, the company intends to use it to generate steam to enable it run a turbine that can produce 125 megawatts of electricity in future.
On the project, Rivers State Governor, Rotimi Amechi, said the state has four power plants while building additional two to meet power need of the oil-rich state.

Source: The Guardian