FG and Brazil build N144b power plant in Bayelsa

The Federal Government and Benco Energy Limited of Brazil yesterday signed a N144 billion Memorandum of Understanding, MoU, to construct a 700 megawatts power plant in Nigeria.

The President of Benco Energy Limited, Brazil, Mr. Rodrigo Badew, said at the MoU signing ceremony that the plant which will be gas and vapour fired will be built in Bayelsa State.

He added that the plant will have a construction period of three years.

According to him, “it is a 700MW plant although it can reduce to 688MW because this depends on location and environmental conditions. The investment is around $800 to $900m.

“Of course all these will be confirmed as soon as we have all the necessary investigations and have them more defined. The time schedule is supposed to be around three years to three and half years for the construction of the project.

“The location is Bayelsa because it is a terrain which is close to

Bayelsa targets $1bn investments from investors’ forum - Kamela Okara

Bayelsa State Commissioner for Trade and Investment, Barrister Kamela Okara, in this interview says the state hopes to attract over $1 billion investment through its first investment forum, holding next week.

What are   the preparations for the first Bayelsa State Investment Forum slated for next week?

I can tell you confidently that we have gone a great length to ensure that we have a successful programme next week in Bayelsa State. All the key elements that will make it a huge success have been put in place in terms of the speakers being invited, the participants who will attend and in terms of