Governor of Delta State, Senator Dr. Ifeanyi Okowa and the Orodje of Okpe Kingdom have been commended for keying into the establishment of Sapele Industrial City (SICITY) project and ensuring the successful signing of Memorandum of Understanding (MOU).
The MOU was signed by the Host Communities of Sapele local government area, at the Palace of the Orodje of Okpe Kingdom, Orerokpe on 17th January, 2018, marking a major milestone towards kick-starting the project.
The Project Development Director, Olorogun Paul Ejakpomewhe Abu who commended the host communities for signing the MOU, stated that the Sapele Industrial City is a socio-economic changing project with a potential to attract investments in excess of 50 billion USD to the Delta State economy within the next 20 years and create more than a million direct and indirect jobs within same period for the people of Nigeria.
He commended the efforts of the state governor, Senator Dr. Ifeanyi Okowa; the Orodje of Okpe Kingdom; Commissioner for Urban Renewal, Chief Karo Ilolo; Director General of the Delta state Investment and Development Agency, Olorogun Lucky Oghene-Omoru; Chairman of the Okpe Kingdom Host Communities Bishop Diamond Emuobor; as well as members of the Okpe Traditional Council, for keying massively into the Sapele Industrial city project.
According to him, “Basic science has shown that with every $1 spent in manufacturing, another $1.81 could be added to an economy. This makes manufacturing the highest multiplier effect of any economic sector. Thus, The SI-CITY shall become the largest manufacturing city in Africa with an independent source of energy when fully established. Our plans is not to make Delta State to remain the centre of attraction of oil and gas exploration and production but also to become a centre of attraction for manufacturing in Africa.
“We will want to work with UNIDO for the design, development of the SICITY and there are development partners lined up already to partner with the stakeholders and Delta State Government for the development and operations of the SICITY and different investors are already expressing interest to install refining plants, gas plants, fertilizer plants, power plants, manufacturing plants within the SICITY and much more are expected as the investments opportunities are enormous.”
The Sapele Industrial City (SI-City) is a safe haven – free trade zone (FTZ) industrial city conceptualized by Exerneum Resources Limited (ERL) to utilize the vast oil and gas resources located within Sapele and its environs as source of energy to drive manufacturing and industrial development with an aim to achieve the economic diversification goal of the Nigerian Government. Conceptually, the Sapele Industrial City is divided into oil & gas districts, energy & power districts, manufacturing district, jetty & marine terminal, business district and residential district.
The SI-CITY is a public-private partnership business concept being developed by a strategic partnership between the Government of Delta State (GOVERNMENT), Exerneum Resources Limited (TECHNICAL PARTNER), Project Development/Concession Partners (DEVELOPMENT PARTNERS), and HOST COMMUNITIES of Sapele-Okpe, Amukpe, Elume, Ozue and Ugborhen Districts of Sapele Local Government Area of Okpe Kingdom, Delta State, Nigeria.
The MOU which spells out the various responsibilities of all the parties dictates that the host communities will provide the land resources (Approx. 12,000 hectares) while the government is expected to provide initial development funding to perform the master planning of the SI-CITY, feasibility studies, branding and marketing, provision of basic infrastructure and facilitation of Government permits/approvals, security and guarantees for private investments.
Also the technical partner will provide the technical supports services in the development and management of the SI-CITY while the development partners shall provide funding for further development of the SI-CITY Districts and infrastructure.
Meanwhile, a special purpose vehicle (SAPELE INDUSTRIAL CORPORATION) is planned by the Strategic Development Partners for the purpose of developing and managing the SI-CITY, thereby allowing INVESTORS to acquire or lease lands within districts of the SI-City to develop their factories, plants, facilities and businesses within the design specifications and requirements of the SICITY Master Plan.