FG Initiates $20b Gas Project in Delta

Gas Exports Drop as Shell Declares Force Majeure
  • FG Initiates $20b Gas Project in Delta

A $20 billion public-private sector partnership gas industrial park is in the offing, the Presidency has said.

Tagged the Gas Revolution Industrial Park, GRIP, Ogidigben, Delta State and envisaged to be a regional hub for all gas-based industries, the project will cover 2, 700 hectares with fertilizer, methanol, petrochemicals, & aluminium plants in the park already designated as a tax free zone by the Federal Government.

Speaking at the Presidential Villa, Abuja during a meeting with international developers and investors of the project yesterday, Acting President Yemi Osinbajo stated that government “was committed to the development of the Niger Delta, and the importance of the project is underlined by the presidential attention it is attracting.

The consortium is made up of Fortune 500 companies like the GS Engineering and Construction Company (GS E&C), the China Development Bank, Power China and several others global operators from Asia and the United Arab Emirates in the Middle East.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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