Bayelsa govt, US-based firm sign MoU on 5 projects worth $17.5 Billion

Yenagoa—The Bayelsa State Government and the International Finance & Development Corporation (IFDC) have signed a Memorandum of Understanding (MoU) to invest in five different high-impact and key infrastructural projects in different parts of the state. gathered that the United States-based firm is mobilizing funds and resources worth $17.5 Billion to invest and finance a 10 MTPA capacity LNG project, 35,000 – 45,000 barrels per day capacity GTL project, 500 MW gas power plant, a deep seaport project and port city development projects in the state.

The President and Chief Executive Officer of IFDC, Mr. Kazi H. Ahmed, was represented by Mr. Michael Hartman, from Germany as representative of the firm to tidy up the investment plan and sign the MoU with the Bayelsa State Government.

Hartman who is the chairman of Lupine, was accompanied to the MoU signing ceremony by Mr. Michael C. Keeling, the Legal Advisor of IFDC and owner of Keeling Law Offices in the United States.

A United States-based Bayelsa-born facilitator, Mr. Enieye Tugba Wilson and Managing Director of Viv Limited, Viv Tonwe Pela, is also part of the deal which is expected to create huge investment and jobs opportunities in the State.

Wilson who led the team of investors noted that the five projects would change the economic fortune of Bayelsa with a huge revenue for the state and the creation of about 40,000 jobs.

The MoU was signed on behalf of the Bayelsa State Government by the Commissioner for Mineral Resources, Dr. Ebieri Jones and the Attorney-General and Commissioner for Justice, Mr. Biriyai Dambo, SAN with the Deputy Chief of Staff, Dr. Peter Akpe, as a witness.

The Bayelsa State Commissioner for Mineral Resources, Mr. Ebieri Jones, had earlier led the IFDC visiting team to meet with Governor Douye Diri, where they briefed him on the investment opportunities.

Diri who expressed delight at the projects assured the investors of the government’s preparedness to provide the enabling environment for the projects to commence immediately.

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