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Last Updated: Monday, December 13th, 2004 HOME | Previous Page Odua Group plans to export petrol, gas   By David Atalese Special Correspondent, Ado-Ekiti   As part of strategies to reposition the conglomerate to meet the growing needs of its shareholders and add value to the legacy inherited by the current board and management, the Odua Investment Company has ventured into the oil and gas industry. Chairman of the company, Mrs. Iyabode Apampa, made this known at the Odua Investment day at the ongoing Odua States Trade Fair in Ado-Ekiti. She noted that the company’s decision to venture into oil industry was the outcome of the review in its four-year rolling plan which she said, was a visionary document to achieve a quantum leap growth in its operations and profitability. According to her, the company would commence the production and export of crude oil as from the second half of next year. She also announced that plans were at advanced stage by the company to produce bitumen in Ondo state as from next year. On the conglomerates investment in the telecommunications sector, Apampa noted with concern that although the new subsidiary was yet to meet its full expectation in making affordable telecommunication services available, the main challenges was the lack of infrastructure in the southwest. The company, she said, was addressing these problems “and very soon high quality voice telephony, data, Internet services and video conferencing would be available at affordable cost to its expectant stakeholders. The chairman disclosed that the company was interested in acquiring the Osogbo Steel Rolling Mills, adding that the group was awaiting the result of the bid for the mill. Apampa also said the company has concluded arrangement to establish a befitting hotel in Ado-Ekiti and it has taken steps to possess the Odua Textile Industries Limited in the town from its existing tenants. Copyright� 2004. All Rights Reserved. Independent Newspapers Limited Block5, Plot 7D, Wempco Road, Ogba, P.M.B. 21777, Ikeja, Lagos State, Nigeria. www.independentng.com e-mail: [email protected] Designed By Powered By DNet.

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