Akwa Ibom State government has concluded arrangements for the establishment of a new electricity generating company, Qua Iboe Power Plant.
The Qua Iboe Power Plant Project which is to be cited at Qua Iboe Onshore Terminal in Ibeno local government area of the state would be operated under Public Private Partnership Agreement (PPA) with the Nigerian National Petroleum Corporation (NNPC) and joint venture with Dangote Group, BlackRhino. African Development Bank, International Finance Consortium (IFC) and the Islamic Development Bank are financiers of the project.
Governor Udom Emmanuel dropped the hint while fielding questions from newsmen shortly after a meeting held at his office with the investors on the power plant project.
The governor said that the project when completed would attract more investors and create employment as well as boost the economy of the state and country.
Mr Emmanuel posited that if about 400million cubic scores of gas are produced, the industrialisation policy of his administration shall witness a major leap and assured of a congenial and safe environment for the investment.
The chief executive officer and founder of BlackRhino, Mr Brian Herlihy explained that the Qua Iboe Power Plant Project has a portfolio of more than one billion dollars in partnership with Dangote Group and NNPC.
He added 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.
Mr Herlihy stated that the Power Plant project would employ more than 12,000 workers at the construction level and 300 workers during operations.
Also, the Special Assistant to the Governor on Power, Engr. Meyene Etukudo noted that Akwa Ibom State is richly blessed with enormous economic potentials and that it’s development is gradually unfolding.
Engr. Etukudo who identified power as a major element in industrial development, said that about 567 megawatt of electricity would be added to the National Grid to make up to about 20 per cent of the total grid in the country.
He expressed appreciation to the governor for his vision to build power sub- stations that would enhance effective energy distribution for the state and used the occasion to condemn the incessant vandalism on electrical installations.
Present at the meeting were Secretary to the State Government, Dr Emmanuel Ekuwem, Dean of Commissioners, Dr Glory Edet, Senior Special Assistant to the Governor on Technical Matters and Due Process, Elder Ufot Ebong, and Special Assistant to the Governor on Power, Engr. Meyene Etukudo.
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