Speaking to newsmen before signing the agreement on behalf of the State Government, Commissioner for Industry, Trade and Investment, Dr. Tersoo Kpelai said Government, after a careful scrutiny had considered the proposal submitted by Messrs. Greengold Exploration Limited and arrived at a decision to handover Benue Burnt Bricks, Otukpo to the investor to takeover, revamp the company and resume production as soon as possible.
Dr. Kpelai while commending the CEO of Greengold Exploration Limited, Mr. Enonche Ugbabe, said when operations resume at the company, the people of the state will benefit in the area of jobs and the local economy will also receive a boost.
He said the Otukpo born investor had demonstrated an unprecedented commitment throughout the period of negotiation and urged him to justify the confidence the state reposed in the company.
The Commissioner hinted that Taraku Mills was next on the line considering the number of investors queuing to take over the factory but attributed the challenges facing the industrialization drive of the present administration to many shoddy investment agreements the previous administration entered into with investors some of which are giving stringent conditions and not willing to pull out despite their lack of capacity to continue.
He said the investor has come at the right time considering the ban on importation of tiles and assured him of Government's support to succeed adding that the company will offer 1, 200 jobs to Benue youths for a start and will generate an average of 10 million naira yearly which will be subject to review after five years.
Mr. Enonche, the chairman and CEO, Greengold Exploration Limited on his part promised to put in his best not to disappoint the state saying with the support and cooperation of the Ortom administration and the people, the project will be successful.
He added that the company will invest 8 billion naira in the project to revamp and expand the company to meet the present demands and sued for prayers to enable him succeed.
Earlier in an address of welcome, Director of Industry, Mr. Matthew Otache said the company which was incorporated in 1983 stopped production in the year 2000, noting that the company is a mono-product firm but the investor has agreed to diversify and introduce a new product.
By Prince Tyodoo Livinus,
COMMENTS