NCDMB, Rungas Hold Inaugural Board Meeting
The Nigerian Content Development and Monitoring Board (NCDMB) on Thursday participated in the inaugural Board of Directors meeting of Rungas Prime Industries Limited, in furtherance of the partnership to establish a 400,000 units per day LPG (cooking gas) cylinders manufacturing plant at Polaku, Bayelsa State.
The meeting was held via video conference facility in line with NCDMB’s firm commitment to ensure business continuity despite the disruptive effect of the coronavirus pandemic in the country.
The Board of Directors approved elements of the business plan that will enable the commencement of the project within the constraints of the COVID-19 lockdowns.
NCDMB and Rungas signed the partnership agreement in December 2019 in Yenagoa, Bayelsa State, at the Practical Nigerian Content Workshop. In January 2020, the Executive Secretary NCDMB, Engr. Simbi Wabote announced that Rungas had been allocated two hectares of land at the Board’s land at Polaku for the establishment of the factory.
He also stated that Chief Timipre Sylva, Minister of State for Petroleum Resources was desirous for the project to start immediately because of his mission to drive the penetration of cooking gas to all Nigerian homes.
The Executive Secretary said the project will generate up to 200 direct and indirect jobs during construction phase and about 350 direct and indirect jobs during the full operations phase, in addition to other induced employment and economic activities.
The project received further boost in March when NCDMB signed an agreement with Shell Nigeria Gas (SNG) for the lease of one hectare of the Board’s land at Polaku, for the development of a Pressure Reduction and Metering Station. Shell will use the new plant to distribute part of the gas from its Gbarain-Ubie Gas Plant for domestic utilization in Bayelsa and environs.
Shell’s investment will ensure that Rungas Prime and other businesses that would sprout on the Polaku corridor can easily access natural gas for power and other needs.