Gov Ayade signs investment development agreements with European investors
In a bid to build the state Infrastructure Company, INFRACROSS, into a world-class company that can compete globally, the Cross River State Government has concluded several investment development agreements with some key investors in Europe.
The agreements were reached during Governor Ben Ayade’s recent visits to some manufacturing facilities owned by the Original Equipment Manufacturers (OEMs) in Europe.
The agreements are expected to engender a sustainable business relationship between INFRACROSS and the OEMs.
In a related development, Governor Ayade, also signed a power generation agreement with Jampur Power of United Arab Emirate (UAE).
The deal which was signed in Zurich, Switzerland, mandates Jampur power to build a power a 20 megawatt plant to generate electricity for the state.
It would be recalled that the governor, had while outlining his area of focus for 2016, listed improvement of electricity supply to Calabar, the state capital, among his 14-point agenda for the year.
Besides the power generation agreement, Ayade also met with several investors in Germany, Switzerland and Austria, seeking amongst other things, technical cooperation and infrastructure fund to help fund key projects in the state.
A similar tour of Asia late last year by the governor yielded a lot of investments, including the construction of the multi-million dollar rice city by the Thai-Africa Corporation.
Construction of the Rice City, said to be the first in Africa, has commenced with site clearing.
The governor also extracted a commitment from the Henan Province of China to make multi-billion dollar investments in the state, including the building of an industrial city where cars and spare parts would be manufactured.
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on Feb 22 2016. Filed under Ben Ayade Desk.
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This is how a public official travels and the ppl see d results of the travelling and are happy. If governor Ayade continues like ds cross river will have atleast 5functional industries by end of his 4 yr tenure. Just imagine what that would do to our unemployed youths.. He needs our prayers to succeed.