By Charles Iornumbe
Benue State Government has signed a memorandum of understanding with a US Company,"Three E Resources Limited"for execution of some integrated projects across the State.
The integrated projects include the processing of agricultural produce mainly rice and cassava as well as the construction of rural access roads using Enzyme Technology to ease transportation beginning with a Five KM test case to ascertain reliability.
Commissioner for Agriculture and Natural Resources,Mr.James Anbua signed on behalf of the State Government and witnessed by the State Attorney General and Commissioner for Justice,Michael Gusa while the President of "Three E Resources Limited" Felix Ukwu signed on behalf of his Company witnessed by one of the Principal Officers,Mr.Terpase Kundam.
Speaking shortly after signing the Memorandum of Understanding on behalf of government,the Commissioner for Agriculture and Natural Resources,Mr.Anbua said the decision was in line with the Ortom administration's policy on Agriculture and Industrialisation-driven economy.
The Commissioner maintained that,the Ortom administration has found it expedient to partner with Foreign Investors with genuine interest and track record of performance and that the Three "E Resources Limited" was one of such,promising that, government would not renege on its part in keeping to terms of the agreement to actualise set goals.
On his part,the President and Chief Executive Officer of "Three E Resources Limited",Mr.Ukwu said they would commit Two Hundred Million US Dollars to the project to be released and used in phases beginning with the pilot scheme in Benue North West.
The President pointed out that the State Government which has no financial commitment to the project but would only provide security for their lives and property,observed that both parties were convinced that the projects were viable enough to guarantee a timely pay back mechanism.
Also commenting,the State Attorney General and Commissioner for Justice,Mr.Gusa described the signing of the MOU as a laudable initiative and assured that the Ortom administration would do all it could to guarantee security of lives and property for foreign investment to thrive in Benue.
US COMPANY TO INVEST MULTI-MILLION DOLLARS IN AGRIC SECTOR IN BENUE. Reviewed by Link Naija on 04:12 Rating: