Major work is now set to commence on the $6 billion (approximately N2.1 trillion) Brass Fertilizer and Petrochemical Company Limited (BFPCL), situated in Bayelsa State, it was learnt wednesday.
The phase one of the project expected to become fully functional in 2020 will produce 1.66 million metric tonnes (MT) of methanol and 1.3 million metric tonnes of urea per annum with an annual turnover of $1.5 billion.
It was also gathered that the project would employ 15,000 workers indirectly during construction and 5,000 permanent workers after the project is completed.
Confirming the planned move wednesday, the Bayelsa State Governor, Mr. Seriake Dickson, noted that when operational, the project would change the economic fortunes of the state.
Speaking at the Monthly Praise Night, in Yenagoa, Dickson pledged his administration’s support for the project, noting that he was ready to push the frontiers in terms of collaborations between the private sector and government.
“Very soon, government expects the Chinese’ $6 billion investment in the Brass Fertilizer project which would further boost the economy of the state,” the governor assured.
On the ongoing airport project which would ease access of businessmen, including the Chinese investors into the state, the governor noted that the first airplane would land at the state’s international airport by June this year.
He affirmed that funds had been set aside already for the completion of the airport with a 3.5 kilometre runway, disclosing that the earlier scheduled completion date of 2019 was too far.
The governor revealed that former President Olusegun Obasanjo would be in the state in the next two weeks to inaugurate some of the state’s “first class” medical investments to the world as well as the Bayelsa Health Service Programme for workers.
“Chief Obasanjo will be visiting in the next two weeks to unveil our medical investments to the world.
“In a recession, we built a brand new university from nothing, you have the best health facilities. We have some of the best facilities in the world. We have the best health insurance system now in the country. The health insurance scheme is covering over 250,000 people”, he boasted.
During the programme, Dickson commended the clergy in the state for their dedication and selflessness, stating that the monthly Praise Night had been observed for six years consecutively.
“As we continue to praise God, the soil of Bayelsa will yield forth all its promises, its prosperity, including those that were hidden,” Dickson added.
