New Telegraph

Infrastructure devt: Bayelsa, IFDC sign MOU on key projects

The Bayelsa State Government and International Finance & Development Corporation (IFDC) have signed a memorandum of understanding for investment in five key infrastructural projects in different parts of the state. The IFDC is expected to mobilise funds and resources to invest and finance a 10 MTPA capacity LNG project, 35,000 – 45,000 barrels per day capacity GTL project, 500 MW gas to power plant and deep seaport and port city development projects in the state. The preliminary estimated total project cost is $17.5 billion. The President and CEO of IFDC, Mr. Kazi H. Ahmed, mandated Mr. Michael Hartman from Germany as representative of IFDC to tidy up the investment plan and sign the agreement with the Bayelsa State Government.

Hartman, who is the Chairman of Lupine, accompanied by Mr. Michael C. Keeling, the Le-gal Advisor to IFDC and owner of Keeling Law Offices in the USA, and Managing Director of Viv Limited, Viv Tonwe Pela, an intermediary between the investors and the Bayelsa State Government, were all part of the deal that will create huge investment and jobs opportunities in the state.

On the part of Bayelsa State Government, the Commissioner for Mineral Resources, Dr. Ebieri Jones, and the Attorney-General and Commissioner for Justice, Mr. Biriyai Dambo, SAN, signed the MoU with the Deputy Chief of Staff, Dr. Peter Akpe, standing as witness.

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