Bayelsa state government has finalized plans to employ about 30,000 workers, mostly indigenes of the state in its $3.5bn fertilizer and petrochemical company.
This statement was made in Yenagoa during an interview by the Deputy Managing Director of the Bayelsa State Development and Investment Corporation (BDIC), Mr. Tam Alazigha. He said the $3.5bn Brass Fertilizer and Petrochemical project to be sited at Odioma in Brass Local Government Area is expected to generate a turnover of $1.5bn.
â€œstate is in for a prosperous future as the corporation has intensified action on restructuring the state economy and expanding economic opportunities, the new offices that were opened in South Africa, United Kingdom and Atlanta and the United States, would â€œtake Bayelsa to the world and bring the world to Bayelsaâ€ he said.
According to him, the development would open outposts in strategic locations in the various key markets in order to leverage on opportunities that the markets offered to drive the restoration of the Bayelsa economy.
Alazigha further Â added that the high-impact catalytic project is expected to produce 5,000 metric tonnes of Methanol per day, 2,200 metric tonnes per day of Ammonia and 7,700 metric tonnes per day of Urea for domestic and export markets.
In his words â€œThis humongous project will ensure availability of high-grade fertilizer for farmers throughout the planting season and meet 25 per cent of the countryâ€™s projected annual domestic demand of 10 million metric tonnes. The BDIC is to take up a 10 per cent equity stake in the project.