24 October 2009
Lagos — Akwa Ibom State Government has expressed its readiness to partner the Hermes Juns Project Limited based in New Jersey, United States of America in the expansion of the Ibom Power Project.
The State Governor, Chief Godswill O. Akpabio, who gave the assurance when the President of the company, Mr. Haza Hassan, presented a proposal on Ibom Power Plant (IPP) to him at Government House, Uyo, said the project at Ikot Abasi inherited from the last administration is today completed with 191 megawatts.
Before now, the state government had signed an agreement with the 7th energy to locally harness the gas reserves in Akwa Ibom State particularly from its gas reserves.
The company is building their Central Processing Unit for gas and the state government has already deposited $33 million for supply of gas to encourage the company to make the project realisable before December, this year.
The essence, Akpabio explained, is to guarantee a 24-hour supply of power through the Independent Power Plant without waiting for the Nigerian Gas Company.
He said the intention of the government was to use Akwa Ibom as a model in power supply, noting without power there can be no industrialisation, maintaining that Nigeria can show seriousness in industrialisation when there is power stability.
Chairman of Akwa Ibom Industrial and Investment Promotion Council (AKIIPOC) Mr. Nsima Ekere, said the state has received tentative approval from the federal government to operate a distribution company where it could generate and control power.
Ekere, who is also the Chairman of Ibom Power Company explained that the approval covers the Port Harcourt distribution zone comprising Akwa Ibom, Cross River, Bayelsa and Rivers States .
A one-time Senate President, Senator Ken Nnamani, who was at the presentation said with the development, there was need for the investors to build on the required speed to complete the laudable projects executed by Akpabio.
The President of Hermes Juno Project Limited, Hassan in a presentation proposes to build 750 megawatts power plant, a hydropower plant and fertiliser plant.
Hassan assured that the plant would be completed in 18 months at the cost of $245 million.
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