Benue attracts $500 mln Golden Shalke’s investment on free trade zone


Benue State Government has signed a memorandum of Understanding (MoU) with Golden Shalke Limited, to build and manage a Free Trade Zone (FTZ), to drive the state economy.

Speaking shortly before signing the MoU on behalf of the Government, the Commissioner of Industry, Trade and Investment, Dr. Tersoo Kpelai, said the agreement will enable the company to have easy access financial institutions to carry out the project.

Kpelai expressed joy that the FTZ will take care of the state’s power problem, which has over the years been a stumbling block to industrial and economic growth as well as the road networks.

He urged the partnering company to move aggressively to achieve the targets; even as he assured them of the government’s commitment to providing the enabling environment.

Responding on behalf of Gold Shalke, its Chairman Dr. Samuel Shangevde Adzongo, intimated that at least $500 million will be injected into the project to develop an industrial park hosting, hospital, a five-star hotel, 20-megawatt power plant, Agro processing industries to enhance agricultural value chain, pharmaceutical hub and building material hubs.

“By the time the projects will be completed, not less than 10,000 youths will be employed. We also hope this administration will commission some of the projects before the end of 2019, to give the government a new tag,” Adzongo added.

On how this will be possible, the chairman promised to travel round the world to source for resources, as well as invite partners from Germany, America, and China, to come and play critical roles in the project. He added that machinery and equipment will start arriving in the state over the next three months.

According to him, “Our organisation has already started a business round table in Makurdi, and we urge you, the commissioner and other interested members of the public to become members to harness better ways of breaking poverty level in the state,” he added.

This site uses Akismet to reduce spam. Learn how your comment data is processed.