BUSINESS

Okowa Applauded for Attracting $40m Manufacturing Firm to Delta

By Sylvester Idowu

Delta State Governor, Dr. Ifeanyi Okowa has been applauded for attracting $40 million (about N15.2 billion) power transmission tower manufacturing industry to the state.

With the aim to promote industrialisation, Delta State Government through Delta Investment Development Agency had partnered Delfrasco to house Africa’s largest Tower Manufacturing, Testing, Research, Training & Hot Dip Galvanising Facility in Issele-Uku, Aniocha North Local Government Area of Delta State.

Upon completion, the industry will be Nigeria’s and indeed, Africa’s first and largest multi-industries local content industrial complex, providing products and services to power, oil and gas, telecoms, agriculture and other industries.

Managing Director of DAS Energy Services, Chief Sunny Onuesoke, while speaking to newsmen on the sidelines of the ground breaking ceremony by Okowa at Isselu-Uku, in Aniocha North Local Government Area of Delta State, said the project would contribute positively to the industrial development of Delta State in particular and Nigeria in general.

He added that the earning of foreign currency from the project would boost the socio-economic development of Nigeria.

“This project is one of the best thing that has ever happened to Nigeria. It will encourage investment in other facets of the society, thereby boosting employment, increasing earning and improving the socio-economic life of the people. By so doing it will reduce the criminal activities in the state to the barest minimum”, he said.

Onuesoke observed that by attracting a company of such global high economic value into Delta state was a fulfillment of Okowa’s earlier promise of attracting foreign investments into the state by creating an environment that will make the state becomes the most investor-friendly destination in Nigeria.

He recalled that Okowa in a meeting with prospective Chinese investors last year made remarks about seeing to it that Delta becomes the most investor-friendly destination in Nigeria.

“The meeting, held in Shenyang, China, was part of a roadshow organised by the state government to build momentum for the impending industrial park in the Kwale region of Delta State.

“To achieve it, the Governor set up an initial intervention fund of $10m as a counterpart start up equity to de-risk the investment for investors that are able to make an early decision to set up their plants in the industrial park. While this is a step closer to creating a sustainable economy for Delta, the writing on the wall clearly showed that the state heavily favours industrialisation,” he said.

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