Plans are underway for the establishment of Qua Iboe Power Plant, a new electricity company by Akwa Ibom State Government.
The Qua Iboe Power Plant project, which is to be cited at Qua Iboe On-shore Terminal in Ibeno Local Government Area of the state would be operated under Public Private Partnership Agreement (PPA), with the Nigerian National Petroleum Corporation (NNPC) Joint Venture, Dangote Group, Black-Rhino, African Development Bank, International Finance Consortium (I FC) and the Islamic Development Bank as financiers of the project. Governor Udom Emmanuel disclosed this, after a meeting with the investors on the new power plant project in Uyo at the weekend.
He said the project when completed, would create employment and boost the economy of the state in particular and country at large maintaining that, with the production of 400 million cubic of gas, the industrialisation policy of his administration shall witness a major leap.
Earlier, the Chief Executive Officer and founder of Black-Rhino, Mr Brian Herlihy explained that the Qua Iboe Power Plant project has a portfolio of more than $1 billion in partnership with Black-Rhino, Dangote Group and NNPC. He added that the company would build a 570 Megawatts Gas Power Plant using a combined circle technology with General Electric and world class expertise to utilise onshore and offshore gas for its operations to enhance the growth of other industries in the value chain.
Mr. Herlihy further added that the Power Plant project would employ more than 12,000 workers at the construction level and 300 workers during operations. According to him, ‘‘this would have a replicate effect on the indirect job market’’ assuring that the company would be alive to its corporate social responsibilities and sued for more cooperation from both the government and people of the state.