The Kwara State government has secured a $56million Chinese investment for the establishment of a textile industrial park in the state. The governor, Alhaji Abdulfatah Ahmed finalised the investment during his current investment trip to East China.http://bizwatchnigeria.ng/kwara-approves-construction-diamond-split-underpass/
According to report, the agreement for the establishment of Kwara Chitex Industrial Park was signed between Governor Abdulfatah Ahmed and Managing Director, Ningbo Jinsheng Star Import and Export Co Ltd, Mr. Shi Zengchao. This was done at the 18th China Zheijand Investment and Trade Symposium, held in Ningbo, East China over the weekend.
The signing involved a total of $3.7billion worth of investments in 31 projects out of which $1.4billion was for outbound investments with the Kwara Chitex Industrial Park.
The governor expressed delight about the multi-million dollar project, stressing that the state is focusing on manufacturing to stimulate its economy and create jobs. He stated that the Kwara Chitex Textile Industrial Park is expected to create 3000 jobs when operational.
“We are looking for investors especially in the area of manufacturing. We have a youthful population which shows there is a strong workforce that can support industrialisation. There are opportunities in textiles, agriculture, mining and other areas. The potentials are huge,” he said.
Governor Ahmed’s Chief Economic Assistant and DG of the state PPP Office, Mr. Abayomi Ogunsola said the deal involves the state government providing up to N1b in counterpart funding and 400 hectares of land as well as infrastructure support.
He also held preliminary talks with potential investors in agribusiness and Agro allied industries, and offered them incentives such as tax relief and accelerated land acquisition.
