By Umar Bayo Abdulwahab
Ilorin
Kwara state government said it has secured a $56 million Chinese investment for the establishment of a textile industrial park which would create 3, 000 jobs in the state.
Governor Abdulfatah Ahmed, according to a statement issued by his Senior Special Assistant (Media and Communication), Dr. Muideen Akorede, finalised the investment during his current investment trip to East China last weekend.
The statement stated that the agreement for the establishment of Kwara Chitex Industrial Park was signed between governor Ahmed and Mr. Shi Zengchao, Managing Director, of Ningbo Jinsheng Star Import and Export Co Ltd at the 18th China Zheijand Investment and Trade Symposium, held in Ningbo, East China over the weekend.
It added that the signing, which was part of the Ningbo Major Investment Projects Signing Ceremony organised by the Ningbo Municipal People’s government, involved a total of $3.7b worth of investments in 31 projects out of which $1.4 billion was for outbound investments with The Kwara Chitex Industrial Park being the only Nigerian bound.
Speaking after the signing, Governor Ahmed expressed delight about the multimillion dollar project, which is expected to commence soon, stressing that the state is focusing on manufacturing to stimulate its economy and create jobs.
The statement quoted the governor as saying that the Kwara Chitex Textile Industrial Park was expected to create 3, 000 jobs when operational.
“We are looking for investors especially in the area of manufacturing. We have a youthful population which shows there is a strong workforce that can support industrialisation. There are opportunities in textiles, agriculture, mining and other areas. The potentials are huge,” he said.
It added that the governor also held preliminary talks with potential investors in agribusiness and agro-allied industries, and offered them incentives such as tax relief and accelerated land acquisition.