N70bn rice factory for Kwara

Date: 2012-03-21

The N70 billion joint venture on rice between the Kwara State Government and Valsolar of Spain  would soon take off, as all arrangements to that effect have been concluded.

Senior Special Assistant to Governor Abdulfatah Ahmed on Media and Communications, Dr Muyideen Akorede, said this in a statement in Ilorin yesterday.

According to him, the project partners had inspected the areas and decided to site the projects in five areas including Shonga, Patigi, Lafiagi, Bacita and Share.

Akorede added that the joint venture company for the project - Valsolar-Kwara Company Limited, has been incorporated by the Corporate Affairs Commission, CAC, pointing out that the project would be implemented in phases.
According to the statement, five project sites were selected following the results of soil and water tests as well as topographical studies conducted by Valsolar sequel to the signing of MoU between the state government and the company last January.

The statement further explained that the rice project would be cultivated on 20, 000 hectares of land adding that the Spanish farmers would engage in cultivating 5000 hectares of land in each location per annum over the next four years.
The government added that the processing factory to be sited in Share would also serve as storage and distribution location, stressing that in addition to the test results, the five locations were chosen for their proximity to each other and to riverine areas.

Meanwhile, Valsolar's advance team of surveyors and engineers are expected to arrive Shonga, the take-off location for the project in May and will commence operations shortly after.

The state government signed an MoU with Valsolar  last month to set up rice cultivation, processing and packaging project in the state.

Under the terms of the MoU, Valsolar would  invest N70 billion in the project over a- four year while the state government would make available 20, 000 hectares of land. In return the Spanish company will hold 70 per cent equity in the company while the remaining 30 per cent would be held by the state government.

Speaking at the signing, Governor Ahmed said that the project  would  generate a minimum 12, 000 jobs across the value chain while accelerating economic development in the state in line with his administration's Shared Prosperity agenda.

Source

 


Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Joseph Yemi Ajayi     LEAH Charity Foundation     Elerinjare     Olajumoke Monsura Gafar     GANZY     Ishola Balogun Fulani     Press Release     Oniyangi     Quran     Ganmo     Abdulmumini Jawondo     Gambari     Offa     Ilorin Central Mosque     Oba Sulaiman Asude     Raliat AbdulRazaq     Raliat Islamic Foundation     Gaa Olobi     Saad Belgore     Ajuloopin     Alfa Modibbo Belgore     Adaramaja     Cornelius Adebayo     Millennium Development Goals     Aliyu Muhammed     Adeola Abraham     Balikis Jawondo     Ibrahim Akaje     Issa Oloruntogun     Monkey Pox     Niyi Ogundiran     Ibikunle Ogunleye     Funmilayo Mohammed     Balogun Gambari     Rotimi Samuel Olujide     Odogun Olushola Gabriel     Shaaba Lafiagi     Waziri Yakubu Gobir     JUSUN     Government Girls’ Day Secondary School Pakata     Sa\'adu Salau     Galadiman Ngeri     Maigidasanma     Lukman Oyebanji Fagbemi     Kupchi Hosea Maxwell     Muhammed Akanbi     Usman Yunusa     Abdulrahman Onikijipa     Sola Saraki University     Bukola Saraki     Sidikat Alaya     Shonga Farm Project     Shuaibu Yaman     All Confederation Of Principals Of Secondary Schools     Alabere     Femi Ogunsola     Labaeka     Omotosho     Age AbdulKareem     Erubu Oba Zubair     George Innih     IF-K     Convocation Ceremonies     Opaleke Bukola Iyabo     Yakubu Shaaba     Okala Baba     Farouk Salim     Abdullahi G. Mohammad     Sai Kayi     Alapansapa     Abdulrauf Aliyu     CKNG     Azeez Salawu     Arinola Lawal     Abdulazeez Uthman     Bayo Onimago     Kolawole Akande    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Abdulfatai Salman Baakini     Olupako     Olaitan Adefila     Bolakale Saka     State Bureau Of Internal Revenue     Olatunji Ayeni     Talaka Parapo     Ilorin.Info     Universal Basic Education Commission     Minimum Wage     JSSCE     Ilesha-Baruba-Gwanara     Amasa     Baba Issa Awoye     Yahaya Dumoye     Kudirat Arinola Lawal     Haruna Tambiri Mohammed     YAKOOYO     Mustapha AbdulGaniyu     Bello John Olanrewaju     Tanke     Markaz Arabic And Islamic Training Institute, Agege     Bolakale Ayo     Omotoso Musa     Kwara North     Abraham Ojo     Shehu Jimoh     Baba Adini Of Kwara State     Sulu Gambari     Aremu Bose Deborah     Abubakar Atiku     Tunde Mukaila Mustapha     Halidu Danbaba     Ganmo     Maryam Nurudeen     Buhari     Abiodun Musa Aibinu     Yahaya Oloriegbe     Halimat Yusuf     Hamid Bobboyi     Otunba Taiwo Joseph     Nurudeen Mohammed     Unilorin FM     Chartered Institute Of Personnel Management Of Nigeria     Niyi Ogundiran     Manzuma     Sunday Fagbemi     Musa Alhassan Buge     Sabi     Roseline Oni Aremu     Emir Of Shonga     Share-Tsaragi     Bashir Badawi     Mary Kemi Adeosun     Sanitation Exercise     Sherif Sagaya     Oro Grammar School     Democracy Day     AbdulRauf Keji     PPS     Moremi High School     Ilorin South Constituency     Mutawalle     Moses Salami     Kwara State Infrastructure Development Fund     Oba Of Jebba     Millennium Development Goals     Segun Abifarin     Isiaka Saka Opobiyi     March 18     Mohammed Katsina Ahmed     Abatemi-Usman     Shaykh Luqman Jimoh     Shehu Salau     Al-Hikmah University     IF-K     Yoonus Kola Olatinwo