As parts of its vision towards improving power supply to boost economic activities, Akwa Ibom State Government has concluded arrangement for the establishment of a new electricity generating company, Qua Iboe Power Plant.
Governor Udom Emmanuel made this know while fielding questions from journalists, shortly after a meeting at his office with the investors on the power plant project, IWIN says in its reports.
According to Udom, the project is to be cited at Qua Iboe Onshore Terminal in Ibeno Local Government Area, and would be operated under Public-Private Partnership Agreement (PPA) with the Nigerian National Petroleum Corporation (NNPC) joint venture with Dangote Group, BlackRhino, African Development Bank, International Finance Consortium (IFC) with the Islamic Development Bank as financiers of the project.
He noted that the project, when completed, would attract more investors and create employment, as well as boost the economies of the state and the country. He added that if about four hundred million cubic of gas were produced at the terminal, the industrialisation policy of his administration would witness a major leap and assured of a congenial and safe environment for the investments.
Founder and Chief Executive Officer, BlackRhino, Brian Herlihy, explained that the power plant project had a portfolio of more than one billion dollars in partnership with BlackRhino, Dangote Group and NNPC.
He further explained that the company would build a 570-megawatts, gas-fire, power plant using a combined circle technology with General Electric equipment and world-class expertise, which would utilise onshore and offshore gas for its operations to enhance the growth of other industries in the value chain.
Herlihy also stated that the project would employ more than 12,000 workers at the construction level and 300 workers during operations, adding that this would have a replicate-effect on the indirect job market.
He commended Udom for the reception granted the team, assuring that the company would live to its corporate social responsibilities and sued for more co-operation from both the government and people of the state.
Special Assistant to the governor on Power, Meyene Etukudo, noted that Akwa Ibom was richly-blessed with enormous economic potentials and its development is gradually unfolding.
