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Foreign companies sign MOU to invest in Bayelsa

22 November 2013, 18:29

Yenagoa - Freda Murray-Bruce, the Director-General, Bayelsa Investment Promotion Agency (BIPA), on Friday said that some investors from Pakistan and Turkey had indicated interest to invest in Bayelsa.

Murray-Bruce told the News Agency of Nigeria (NAN) in Yenagoa that investors from the two countries had visited the state and signed Memoranda of Understanding (MOU) with the state government.

She said that the investors included Heritage Oil Company UK, Drill Stem Testing (DST) Petroleum Ltd, the Lagray Chemical USA and Turkey Management Company.

“The investors have indicated interest in the real and service sectors and have signed memoranda of understanding with the government.

“The Heritage Oil Company UK will develop hydro-carbon resources, while Drill Stem Testing (DST) Petroleum is to establish a fertiliser plant in Brass Local Government Area of the state.

“The Lagray Chemical USA is for the development of pharmaceutical products, while Turkey Management is for building aquarium facility,” she said.

The company director reiterated BIPA’s commitment to re-position the business climate in Bayelsa and its readiness to make the state a preferred investment destination for investors worldwide.

“We want to make Bayelsa the foremost private sector-led, multi-sectoral global business hub in Africa.

“We have developed and launched a website: www.bipa.gov.ng to create a platform for interaction with the international business community,’ she said.

-   NAN


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