Governor Ayade Concludes Investment-Development-Agreement With Core Investors In Europe

The meetings are primarily aimed at establishing high level partnership with Cross River State Government and core investors in Germany, Switzerland and Austria. The Partnership is in areas of Infrastructural Investment and Infrastructural Engineering with specific focus on the Deep Seaport, Super Highway and a deal to generate 20 Mega watt electricity into Cross River State, using the Cross River Electricity Power Company Limited, an already established Special Purpose Vehicle(SPV) in the state. These major projects were the concentric of discussions during the meeting process between the Governor and core investors in Europe

As the Governor concludes his meetings in Europe, this weekend, he will be on his way to North America (United States and Canada) to conclude other investment development agreements .

Earlier on, as could be recalled, the Governor had made similar trip to Asia where he discussed with Malaysian and Chinese companies as regards such investment arrangements. Based on that, China Habour, in partnership with the Cross River State Government, has already commenced construction activities on the Bakassi Deep Sea Port project; Thai African Company has already commenced activities in the site for the Rice City at Goodluck Jonathan by-pass; Calabar Pharmaceutical Company, beside the Garment Factory, is currently, under construction. This is in the area of foreign investment.

In the aspect of local investment, Index Petrolube in partnership with Afri Examp Bank is already processing its entry papers into the state with the Cross River State Investment Promotion Bureau and the State’s Ministry of Commerce and Industry. The Bureau of Public Private Partnership (BPPP), the State’s Attorney General, the Commerce/ Industry Ministry and the Cross River State Bureau of Investment Promotions are currently handling documentation process of the investors on ground (I have already written about the incoming of Index Petrolube Company).

Finally, the Governor has given Executive Approval to the Cross River State 2016 Budget titled ‘Budget of Deep Vision, last week Friday.

May God strengthen and protect the Governor, as he travels around the glob in his quest to look for permanent solution to the puzzle of our future’s uncertainty, and to bring poverty/backwardness in our state beneath heels. Entreaty sealed in the name of Christ.