Bauchi signs MoU for $200m sugar plant; to generate 5,000 jobs, 53 megawatts of electricity

Posted by News Express | 15 May 2017 | 2,290 times

Gmail icon

•Governor Mohammed Abubakar.

 The Bauchi State Government has allocated 60,000 hectares of land for the cultivation of sugarcane and the establishment of $200 million sugar milling plant and refinery through public-private partnership Geolo Global Company Limited as the promoter of the plant and Horley of London as financiers of the project.

The proposed sugar milling plant and refinery will produce 5,000 metric tons of sugar per day and create 5,000 direct and indirect employment opportunities in Warji Local Government Area of the State.

A statement issued on Monday by Press Secretary to Governor Mohammed Abubakar of Bauchi State, Abubakar Al-Sadique, says establishment of the sugar milling and refining plant is contained in a Memorandum of Understanding signed between the State Government and Goelo Global Company Limited on the establishment of the sugar milling plant, refinery and farm for the cultivation of sugarcane.

The statement further explained that the plant will be producing 5,000 metric tons per day.

Governor Mohammed Abdullahi Abubakar said 50 million naira revenue will be internally generated and 53 megawatts of electricity to be used by the plant and the entire state through the national grid.

The Governor explained that the MoU signed is a “testimony to the administration’s resolve to attract investors to the State in the critical areas of agriculture, tourism and solid minerals, which were identified as areas of comparative advantage” and as a good alternative source of revenue to petroleum.

He explained that the state is blessed with arable land that can be used not only through rain-fed agriculture but also in irrigation, saying previous attempts failed.

He pointed out that the memorandum of understanding is structured with the local community clearly carried along, saying “Bauchi community is progressive and loving but won’t be taken for granted.”

While assuring the host community of government’s protection against environmental degradation, Governor Abubakar said the State is represented on the Board of the company, and “will always prioritise the people at all times.”

The managing director of the Geolo Global Company Limited, Mr. Daniel Oluigbo, while explaining that Warji is the ideal place for siting the company because of its large expanse of land and suitable water source, said the company is glad with the warm reception it received from the state.

Oluigbo said the company is in the state to cooperate with the people and contribute to building its economy, assuring that as part of its corporate social responsibility programmes, the company will provide the host community with the needed infrastructures in schools, clinics, portable water, and electricity.

He explained that under the memorandum of understanding, 200 graduates are to be trained to take over the management of plant in the future, saying the State Government takes 25% of stake in the company.

The managing director explained that only 80% of sugar to be produced by the plant will be exported while the remaining 20% will be left for the local market.


Source: News Express

Readers Comments

0 comment(s)

No comments yet. Be the first to post comment.


You may also like...