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IMOKE CONTRACTS FOREIGN FIRM TO MANAGE $350 CALABAR ENERGY CITY

By NBF News

The Government of Cross River State has contracted Port Evo, as its Strategic Business Advisors, to manage the $350 million development of the Calabar Energy City.

This move is in government's quest to place the Calabar Energy City as the regional location of choice for industrial and other commercial undertakings.

This new 375 hectare oil and gas industrial support facility, complete with 500M of quay, warehousing, accommodation, offices and state of the art infrastructure is located in one of the most secure parts of Nigeria with excellent access to the sea and inland communications and an international airport.

Calabar Energy City will be one of Nigeria's most technologically advanced developments equipped with state-of-the-art engineering facilities for sub-sea systems and hi-tech communications services. It will be filled with a diverse mix of energy related companies, multiple customers and suppliers, operating in a vibrant, safe and innovative environment, facilitating the development of a new phase in the energy industry in Nigeria and the Gulf of Guinea.

The past feats of Cross River State in becoming one of the foremost environment and tourism focused states in Nigeria has been reinforced by its partnership with Port Evolution Management, UK (Port Evo) in the conception of a world-class multi-million dollar project with immense potential in providing logistic support for Oil/Gas and Energy Corporations in the South Eastern part of Nigeria and the Gulf of Guinea.

Cross River State is endowed with highly skilled and well-educated labour force, thereby establishing Calabar as a viable, conducive and secure location in which the energy sector and related manufacturing services can be established to leverage on the available labour and other natural advantages of the Calabar/Cross River State environment. Calabar Energy City under the visionary leadership of Governor Liyel Imoke has opened up new vistas for investment.

Signing the contract in Calabar, Governor Liyel Imoke said 'Calabar is ideally placed to handle the growing demand for oil and gas services, as offshore drilling developments move eastwards and that Port Evo's together with their financing arm, Neutrali, has huge experience in port developments and green field site development.'

Imoke stated that the firm will also provide us with all 'the expertise needed for the successful development of CEC facility which will become a centre of excellence for subsea engineering and it has the onsite benefit of Calabar Universities' resources.'

'As an emerging economy,' Imoke maintained, 'that the Cross River State Government envisions a future where Nigeria will occupy the leading position in the Oil and Gas sector and as the Gulf of Guinea becomes one of the world's largest oil and gas producing areas Calabar's secure location will be well placed to handle this development.'

The CEO of Port Evo, James Sutcliffe, in his address, said, 'Our Concept to Construction', expertise is a perfect fit for this development. We are delighted with the can do attitude of the Cross River State Government and the very positive business and friendly environment we have found in Calabar. Starting with just a concept, as envisaged by Governor Liyel Imoke, in January this year, we anticipate the site being cleared and reclaimed by December 2010, with the port and site construction to follow'.

'The Calabar Energy City project is an important element of Imoke's Cross River State Economic Blueprint. The blueprint sets out a passionate vision aimed at transforming the lives of Cross Riverians and propelling the State towards becoming the preferred destination for business and leisure in Nigeria,' he added.

According to him, 'The holistic development for the CEC project, its strong alignment with the State Economic Blueprint and, above all, its adoption and execution of a well-defined PPP structure, will fast track the project's completion, while ensuring that government's participation and financial commitment to the project are directed towards its core competences, providing strong political support and establishing critical infrastructure and security to sustain cost-effective operations.'