The Akwa Ibom State government has shown its commitment to build Qua Iboe Power Plant, a new electricity company by the 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 (IFC) and the Islamic Development Bank as financiers of the project.
Governor Udom Emmanuel revealed the intention of the state government after a meeting with the investors on the new power plant project in Uyo. Udom made it known that 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 industrialization policy of his administration will witness a major leap.
On his part, the Chief Executive Officer and founder of Black-Rhino, 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. Herlihy noted that the company would build a 570 Megawatts Gas Power Plant using a combined circle technology with General Electric and world class expertise to utilize onshore and offshore gas for its operations to enhance the growth of other industries in the value chain.
He added that the Power Plant project would employ more than 12,000 workers at the construction level and 300 workers during operations.
In his words, ‘‘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.