BUSINESS
Over N50b Direct Foreign Investments Attracted To Delta – Nmah
The Delta State Investment Development Agency (DIDA), says over N50billion Direct Foreign Investments (DFI) have been attracted to the state.
Chairman of the agency, Mr Paul Nmah who disclosed this in an interview with Journalists at the Agency’s office in Asaba, on Thursday, said that the DFI were recorded from various Memorandum of Understanding (MoU) signed with investors by the Governor Ifeanyi Okowa’s led administration.
According to him, Governor Okowa’s determination to partner with investors to develop the State has attracted billions of direct foreign investments to the State.
Nmah who also doubles as Executive Assistant to the Governor on Investment and Promotion, said that one of the greatest attractions was the $20 million Umutu Gas Plant at Ukwuani Local Government Area of Delta State.
“Since I came onboard, we have attracted many investments to the state; and as we speak today, many of them are near completion, some are completed and others are waiting to be inaugurated.
“One of such projects that is waiting to be inaugurated is the Umutu Gas Plant; we were able to attract a foreign investor into that project where they signed GSPA with Platform Petroleum to erect a gas plant for the purpose of transporting compressed gas to industries in Delta State which we were lacking even with the high gas deposit in the state.
“The closest place to get compressed natural gas deport was Edo or Enugu States; that gave rise to high cost of gas in Delta than these places.
“The Umutu Gas Plant has solved that problem because, the project has been completed and it has started processing gas and feeding a lot of companies in Delta with gas at a lower cost.
“That project cost $20 million; it is completed and its inauguration was held up because of COVID-19 pandemic. Over 600 Deltans have been employed there; they are working and earning a living and many more were engaged at different levels of the construction stage of the project.
“During my inspection visit last week to the plant, they were working out plan with Keke riders in Delta to make them use Compressed Natural Gas as fuel which is cheaper compared to the PMS they are using.
“This is also another huge investment to the state, because, they are going to set up gas fuel station where the Keke can refill their gas.
“We are also discussing with Tanker Drivers in Warri to also key into this project which will also reduce the cost on fuel,” Nmah said.
Other ongoing key projected attracted by the agency, according to him, include; Mechanic Village along the express worth N5.6Billion, Warri Tanker Park which cost N10billion and others which are near completion.
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