NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
NEXIM injects $10m to rehabilitate Golden Guinea Breweries

By Mayowa Okekale, Abuja on 20/04/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,178

•NEXIM Bank Acting MD Bashir Wali.
•NEXIM Bank Acting MD Bashir Wali.

The Nigeria Export Import Bank (NEXIM) says it has injected $10 million for the restoration and rehabilitation of the abandoned Golden Guinea Breweries Plc.

The loan facility was obtained by a core investor, Pan Marin Limited, in Umuahia, Abia State, with about 90% control for a medium term, in its bid to revamp the business activities of the breweries.

Mr. Bashir Wali, Acting Managing Director, NEXIM Bank, confirmed during a chat on Wednesday that the loan has a tenure of six years, 18 months moratorium on interest and 24 months on principal with an interest of 14% per annum.

Wali stated that the project has huge potentials to generate employment with projected direct and indirect employment of about 1,200; and projected annual exports based on the company’s plan put at about US$4.17m based on 30% performance of its export strategy.

The core investors are said to be planning to restructure and turn around the company’s misfortune through a technical partnership with Hormes GmbH of Germany who performed the technical review of the brewing assets.

The company was said to have executed a management and operating agreement with Brewtech Gmbh to manage the production process for an initial period of five years in the first instance from the commencement of operation but subject to renewal as may be mutually agreed by the parties and agreed upon for a further three years in each instance.

NEXIM bank had expressed its commitment to support local content initiative to generate employment that will improve Nigeria’s non-oil foreign exchange revenue.

Source News Express

Posted 20/04/2017 10:13:20 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
No dirty deals between NNPC and Springfield Energy...

Police nabs 6 suspects over extra judicial killings...

Faleke: The gods are not crazy; they are...

5 men docked over 13-year-old minor’s pregnancy

Bomb scare in Lagos •Suspect in police net...

Nigeria, Burkina Faso, Ivory Coast, Egypt and Cameroon...

Delta Integrity Group warns against campaign of calumny...

Katsina probes 2016 Hajj exercise

Court orders FG to reinstate NEMA spokesperson 4...

No salary for federal civil servants, police to...

Akpabio commiserates with Americans as U.S. Consulate General...

We didn’t spend N3bn on cars for political...

 

Latest News 15 revenue-generating agencies fail to account for N8.1tr Troops turn the heat on killer herdsmen, gun down 35 in 4 states Ebola won't stop Eagles/DRC Friendly-Dalung S'East governors shun Ohanaeze summit •Pan-Igbo group insists on restructuring nPDP votes to remain in APC MASSOB, BIM mark Biafra’s independence •Warn members against violence 2018 Budget: Why NASS included additional funding for primary healthcare — Senator Tejuoso Delta govt donates buses to prisons New APC state chairman resigns from Ogun cabinet Taraba First Lady commends Fidelity bank for donating special learning aids to children with disabilities Atletico Madrid name squad for Super Eagles friendly NiMet forecasts another cloudy day

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (345,180 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (341,833 views) Shameless Genevieve Nnaji exposes breasts in public (273,283 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (224,674 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (205,150 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (202,690 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (176,872 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (159,183 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (150,152 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (143,354 views) Lagos plane crash: Journalist releases victims’ names (139,979 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (132,363 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (40) Business & Economy (3,144) Business Verdict (43) Columnists (853) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (497) Features (595) Global Business Monitor (273) International (1,968) Interview (149) Live Commentary (28) Love Matters (120) News (35,480) Opinion (956) Pidgin (10) Politics (5,037) Religion (743) Sports (1,514) Stock Watch (29) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Boko Haram commanders surrender

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement