AS Energy Limited has expressed delight in the economic blueprint of the Bayelsa state government, and, therefore, its readiness in setting up a pipeline manufacturing factory that will generate employment for at least 100 youths.
Disclosing this at the just concluded economic summit in Yenagoa, Managing Director, Gbenga Olaniyan said the company has acquired hectares of land at Gbarain in Yenagoa local government area for the take-off of the project
He stated that the company is encouraged by the disposition of the Douye Diri-led administration towards the involvement of the private sector in building the state economy.
Olaniyan said research had shown that the private sector plays a critical role in the economic development of the countries of the world.
According to him, ‘Our motive for setting up a pipe manufacturing plant in Bayelsa State is borne out of economic and social responsibility as a committed corporate business entity.
“The vast untapped potential in Bayelsa State is there, ease of doing business, friendly climate, easy access to gas to power our facility and access to a water body for marine activities when required.
“We are also taking advantage of the Nigerian Oil & Gas Industry Content Law that has significantly promoted country investments through its agency, the Nigerian Content Development & Monitoring Board (NCDMB). We will also work with the NCDMB to ensure that the desired value is added locally.
‘The project once completed and running will be the first of its kind in Sub-saharan Africa. It will attract direct investment into Bayelsa State, Niger Delta and by extension Nigeria, and would also provide employment and technical skills to citizens of Bayelsa State.
“It is 100% owned by Nigerians and a private sector-driven company, but supported and championed by the state government.
‘We have been in liaising with the government and they have assured us of an enabling business environment, security and protection of our investment.
“We are also seeking tax rebate from the government, as the success of the business is a success for the state and Nigeria at large.
“Based on projections, we are looking to employ at the start 100 and this will be progressive. It will cut across from senior level, medium level and low-level workforce.
“Total estimated cost of the project is in the range of 15 million USD”
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