Uzodimma Signs MoU To Establish Orashi Special Energy Free Zone
Officials of the African Export – Import Bank (Afreximbank) has sealed a deal with the Imo State Government to invest $1.5b in the state.
This was disclosed at the weekend by Governor Hope Uzodimma after meeting with the President of the bank, Prof. Benedict Oramah, and members of the management team of the bank, in Cairo, Egypt.
Uzodimma, who was at the meeting with some top officials of the state government, said details and potentials of the investment in the state were discussed.
Uzodimma had assured people of the state, shortly after his second term inauguration on January 15 that he was going to intensify efforts towards exploring contacts locally, nationally and internationally to attract huge investments, including harnessing resources to the state.
He also talked about his resolved to convert the massive arable land, gas deposits and other abundant human and material resources in the state into beneficial opportunities for unemployed youths and demographic aggregation.
The governor said: “I am delighted to share an exciting development as I seized an opportunity in Cairo to meet with our esteemed brother, Prof. Benedict Okey Oramah, President of Afrexim Bank.
“We explored potential partnership terms aimed at catalysing investments in our state and I am thrilled to announce that our efforts have borne fruit, as we have made significant strides in advancing discussions for potential investments totaling up to $1.5 billion.”
Uzodimma stated that: “This collaboration holds immense promise for the prosperity and growth of our beloved state as we continue to work diligently towards realising our shared vision of a thriving and vibrant economy.”
In another development, Uzodimma signed a Memorandum of Understanding (MoU), with the Elsewedy Group, a leading multinational conglomerate for Orashi Special Energy Free Zone project.
The agreement aims to revolutionise the state’s energy sector focusing on industrial growth and job creation for the state and the nation at large.
While the governor signed on behalf of the state government, President of the ELSEWEDY, Ahmed Elsewedy, signed for his outfit.
Uzodimma also engaged with other investment global entities, including Hassan Allam Holdings,
a leading engineering, construction, investment and development company, Orascom Group.
The outcome of the interaction, partnership and collaboration, according to the governor, would result in socio-economic development of the state, strengthening bilateral ties between Nigeria and Egypt, for the greater good.
