The plans to set up a petrochemical and gas company, Quantum Petrochemicals, in Akwa Ibom State by the Chairman of Zenith Bank Plc, Mr. Jim Ovia, has been described as a giant stride that will reduce the level of unemployment and bring about a better life in the state and beyond, ThisDay reports.

Speaking with journalists on the occasion of the second anniversary of the Governor Udom Emmanuel-led government at the Uyo Township Stadium, on Monday, the Chairman of Akwa Ibom State Integrity Group, Mr. Robert Okon Jim, commended the promoters, saying it would help in the current industrialisation policy of the state government.

Okon who was full of praises for Ovia, said the $1.5 billion initiative, which ground-breaking ceremony was carried out in 2014 by former President Goodluck Jonathan, would not only engender the industrial development plan of the state, but create employment and alleviate poverty in the state.

Already, the ground appears to have been prepared for the take-off of the project as the state government has, among other things, carried out the Environmental Impact Assessment (EIA), issued a Certificate of Occupancy (C-of-O) to the company as well as cleared and prepared the site for commencement of work.