Bayelsa sees economic prospects in $6bn Brass Fertilizer Plant

Business News

By Franklin Ocheneyi

VERY soon, government expects the Chinese to commence work on the $6 billion (about N2.1 trillion) they are investing in the Brass Fertilizer and Petrochemical Company Limited (BFPCL) project which would further boost the economy of the state, to commence.”

Mr. Seriake Dickson, the Governor of Bayelsa State, confirmed this development during the Monthly Praise Night, in Yenagoa.

The phase one of the projects 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 learned that the project would employ 15,000 workers indirectly during construction and 5,000 permanent workers after the project is completed.

The Bayelsa State Governor noted that when operational, the project would change the economic fortunes of the state.

He 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.

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