The Federal Executive Council (FEC) on Wednesday, approved the establishment of a Planetarium and Museum at the National Space Research and Development Agency (NASRDA).
This is contained in a statement signed by Ms Manji Yarling, Acting Head, Media and Publicity, Infrastructure Concession Regulatory Commission (ICRC) in Abuja on Wednesday.
Yarling said the projects which would adopt and equip, operate and maintain Public Private Partnership Model, followed the regulatory guidance of the ICRC.
According to her, the project is designed to run for a concession period of 15 years and will generate a total of N30 billion for both the federal government and the Private Sector Investor.
“A Planetarium is a domed building in which images of stars, planets, and constellations are projected for public entertainment or education.”
Yarling said the projects would be executed through NARSDA with Messrs Atlantic Factorial Limited as the concessionaire.
Mr Michael Ohiani, the Director-General, ICRC, was quoted as saying “the projects will boost the nation’s tourism sector and stem capital flight.
“A total of 2,160 visitors are expected every week, out of which 360 will engage in the sky diving section and 1,800 visitors for other tourist activities,” he said.
Yarling said that following the approval by FEC, the next stage of the project would be the signing of an agreement between NASRDA (Grantor) and Milky-Way Visuals Ltd.
According to her, Milky-Way Visuals Ltd is the Special Purpose Vehicle (SPV) set up by the concessionaire to specifically handle the project.
