The Benue State Investment and Property Company (BIPC) Limited, Tuesday, stated that it has commenced construction of beer production company, as well as a bakery and water factory in Makurdi the state capital.
The company said its investment is worth over N1 billion.
While the beer producing company is expected to take off from the first week of December this year, the bakery and water treatment and bottling company are to begin production before the end of this month.
After a tour of the three companies, the Managing Director of BIPC, Dr. Raymond Asemakaha, said while the beer production company project is expected to cost between N700 to N800 million with a capacity of 180, 000 bottles per day, the bakery and water factory will cost N220 million.
He noted that the company was out to give Benue and Nigerians high premium quality beer that is made in Benue, using fresh raw materials.
Asemakaha added that the numerous studies carried out reviewed that producers of beer alcoholic beverages make between N850 million to N870 million sales monthly in the state.
The MD also said the decision of the company was to ensure that such funds are no longer taken out of the state but retained within to boost the state’s economy.
“When we came on board, we promised to engage in businesses that will take the teeming youths of the state out of the street. The establishment of the companies is to fulfill part of the promise.
The establishment of the brewery would cost the company between N700 million to N800 million and the shares would be open for Benue indigenes to subscribe.
“One percent of the shares would be reserved for each of the 23 LGAs of the state to subscribe.
“From the start, the company would be producing 180,000 bottles per day because the fermentation alone takes 15 days.
“We have also adequately planned for the raw materials needed for the production of the beer.
“We want to make Benue a hub of business, generate employment for the youth and encourage people to own business. We are working towards achieving that and will surely get there,” he stated.
He also noted that the water and bakery factories would be cited within the same premises at Tse Ayu, along George Akume Way.
