The Oil and Gas Free Zones Authority is set to break new grounds with plans to license another oil and gas free zone in Delta State.
After an inspection visit to the proposed free zone, which is located in Okitigbo in Warri North of the state, the Managing Director, OGFZA, Mr. Umana Okon Umana, said he was impressed with the level of physical development on the proposed free trade hub and the readiness of its promoters, Awaritse Nigeria Limited, to make the area acquire an oil and gas free zone status.
Umana informed the promoters that they would have to comply with a set of requirements from the OGFZA, after which a recommendation would be forwarded to the President to grant the facility a licence to operate as an oil and gas free trade zone.
Noting that the proposed free zone would be for both upstream and downstream activities in the oil and gas sector, the OGFZA boss commended the management of the ANL for keying into the Federal Government’s drive for foreign direct investments.
He said he was pleased that the project was 100 per cent Nigerian initiative, and expressed the hope that the Koko Port, which is near the project site, would be integrated into it in the future.
In a presentation to the OGFZA team, the Secretary and Legal Adviser to the board of the ANL, Mr. Desmond Dudu, said the proposed free zone would sit on a land area of 87, 044 hectares with a plan to increase it by another 80,000 hectares.
Dudu also said the project promoters had so far invested N4bn in it, out of a total estimated cost of N20bn.
According to the ANL, the project is expected to generate 2,170 direct and indirect jobs on completion.
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