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B N W: Biafra Nigeria World News |
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Benue assures on completion of cement firm
AN assurance came at the weekend from the Benue State Commissioner for Commerce and Industry, Mr. Joe Abaagu, that the state government was committed to the actualisation of the Igumale Cement factory.
Abaagu, in a statement in Makurdi, disclosed that a high powered state delegation led by the Deputy Governor of the state, Ogiri Ajene returned last week from China where it had gone to discuss a detailed work schedule with the Chinese partners.
According to him, the partners assured the delegation that the construction of civil works and installation of equipment would be completed before end of next year saying a large team of construction workers would arrive from China next month to begin work.
He said that feasibility studies had already been concluded; site acquired, while the entire layout of the factory had also been designed.
The commissioner disclosed that equipment for the factory had already been produced and that some of them had already arrived the state in six huge containers, which were being kept at the secretariat of Ado council in Igumale.
Abaagu stated that the Chinese partners had at the moment committed N350 million ($3m to the project while the state government had spent N120 million ($1m) on it.
He explained that the state government chose the Chinese because they offered it what it considered the best pointing out that they had offered to build a 600,000 metric tone capacity factory at the cost of N9.5 billion ($80m).
The commissioner stated that the factory would produce Portland and coloured cement hitherto not produced in the country while utilising the abundant coal deposits in the areas as its fuel.
Abaagu said the state government would pay N3.8 billion ($24m) for the factory while the balance of N4.5 billion ($56m) would be recovered from the operations of the factory, which would be managed for 10 years by the partners before its handover to the State government.
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