Thailand Business Group To Invest $400m In Anambra | Independent Newspapers Limited
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Thailand Business Group To Invest $400m In Anambra

Posted: Jul 26, 2016 at 6:16 am   /   by   /   comments (0)

The Anambra government and Thai Borneo Energy Ltd, Thailand, are collaborating to attract agricultural investment projects valued at $400 million to the state.

Mr. Billy Ekwunife, Managing Director, Anambra State Investment Promotion and Protection Agency (ANSIPPA), disclosed this to newsmen after a meeting with the business group and others in Awka on Monday.

Ekwunife said that the major focus of the investors was massive farming and production of rice and palm kernel oil for local consumption and export.

“The state government will provide the land and some other logistics for the investment, while Thai Borneo Energy Ltd. will finance the project through their partners, the Bukham Group.

“Their rice specie is quite different from the rice we have in the country, which will be harvested three times a year.

“The oil palm tree to be introduced is specie three times better than what is obtainable in the Nigeria,” he said.

Ekwunife stated that the investment will create jobs for youths when actualised and help to boost rice production in line with the state government’s desire to produce 320, 000 metric tons yearly.

He stressed that communities where the project would be sited would also benefit from the power project to be put in place.

However, Ekwunife, who expressed satisfaction with the outcome of the meeting, said a final agreement would be reached with the investors at a later date.

Representatives from Fidelity Bank, Heritage Bank, KC Apex International Ltd, Micpan Integrated Services Nigeria Ltd and Bukham Group of Companies Ltd also attended the meeting.