With two days remaining to the deadline given by the EDIB International of Hong Kong to back out of the $27.29 billion Escravos Deep Seaport Industrial Complex (ESIC) Project in Delta Sate, the Federal Government is yet to give the much-needed approval.
Yesterday, Delta State government gave a timely approval and validation raising hope of meeting the deadline which ends June 30.
Recall that the project financing company had requested security and protection of their investment with guarantees by the Federal Government as well as the state government approval.
The investing company had emphasised that if the government approvals were not received for the project, which will have a deep seaport, crude oil refinery, gas complex, Independent Power Plant (IPP), airport, Nature Park, and other facilities, by the end of June, the funding commitment may be diverted to other African states.
Mercury Maritime Concession Company (MMCC), the concept…
Source: Guardian Newspaper
