In view of the petrochemical cluster, the minister said, "it is necessary that a trade centre in oil and gas be established in Rivers State, to support and encourage the sector and to give the initiative the push it deserves."
He appealed to the restive youths, to stop the militancy and give peace a chance so that investment toward development of the area can go on, adding that such gesture will make the region a beehive of business activities in the country.
"You need to have peace and tranquility to build the roads, and the petrochemical facilities," he said.
The minister also revealed that the ministry has received over 20 proposals from willing foreign investors, to build refineries and participate in the development of the country's Urea and Ammonia mineral resources for the manufacture of fertiliser.
Ugwuh who expressed disappointment on the low level of technological advancement in the country, said there is an urgent need to develop capacity in the area, adding that the country's leadership is initiating a new policy to ensure new coupling to seek investment in developing ethanols and other resources.
Source: Leadership
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