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Thursday, December 8, 2022

Influx of industries excites ODSG

By Olusola Alatise
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The influx of investors establishing industries in Ondo State in recent times has excited the state government, even as the government has vowed not to rest on its oars.

The state Governor, Arakunrin Oluwarotimi Akeredolu, SAN, who expressed this during the weekend at the commissioning of a five-star hotel in Oba-Ile, affirmed that his administration through its investor, friendly policies has attracted several multi-billion naira investments into the state.

The Governor at the occasion noted that when the series of industries start operations rully in the state,  they will go a long way to boost the economic growth of the state.  He listed some of the new industries to include the N42 billion Egg Powder Plant under a Public Private Partnership (PPP) arrangement between the State and Greenfield Assets Limited located at Emure-Ile, near Owo which will provide 25,000 new jobs, a foreign exchange earnings of $1 billion in addition to  increased income for poultry farmers in Nigeria.

Other investments recently attracted to the state include the 65,000 million litres per annum biofuel plant in Okeluse and Ondo State Sunshine Ricemill located at Igbara-Oke in Ifedore Local Government Area of the state.

Others he said are N45b Housing Estate at Abo-Asakin in Akure North Local Government, signing of the Consultancy Services Agreement between Ondo State Government and Maritime and Transport Business Solutions, MTBS, Ltd. of Netherlands, for the conduct and preparation of feasibility study and conceptual master plan design for the development of a multipurpose Deep SeaPort, signing of various MOUs on free trade zone, and the development of an Industrial City.  Flag-off of Araromi-Seaside-Epe-Lagos road..

In February this year, a rice factory was located at Igbara-Oke. There is no doubt about the fact that Akeredolu, SAN is prepared and clearheaded about his plans and agenda to transform the State and diversify its economy. This became more evident on Wednesday, 21st February, 2018 as the Governor flagged off the Sunshine Rice Mill/Plantation.

There was a re-appraised and reworked MoU between Africa Redcrest Nigeria Ltd and ODSG for the Establishment of Mass Rice Production of 37,500Mt of rice per annum and a Rice Mill, all with an estimated project value of N12,000,000,000 (Twelve Billion Naira Only).

ODSG holds 20 percent equity stake with two directors on Board for contributing 500 hectares of land beside Owena Dam Area, while Africa Redcrest Ltd is to own 80% of equity stake and five directors on Board for providing technical assistance, management and funding to the project.

He maintained that the project will in no small measure drive the economic growth of the state and by extension the nation, reduce unemployment and increase social cohesion.

He noted that his administration since inception in the state has been creating and enabling environment and good number of opportunities to attract investors to the state.

The Hope Owena Press
The Hope Owena Presshttp://www.thehopenewspaper.com
Owena Press Limited (Publisher of The Hope Newspaper), Akure

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