NOVEMBER 30, 2017: GOVERNOR Rauf Aregbesola of Osun has signed an agreement worth $600 million with a Chinese firm, identified as Jiangsu Wuxi Taihu Cocoa Food Company Limited, on the establishment of Industrial Park in Osun State.
The MOU agreement was signed inside the Oke Fia Government House banquet hall in Osogbo. The governor hinted that the state had agreed to allocate 200 hectares of land to facilitate the establishment of the Industrial Park.
Aregbesola affirmed that the partnership, will support the state on six different industrial investments which includes; cocoa bean processing, chocolate and food processing, salt processing, cassava starch processing, gold mining and power plants, saying “the total investment by Jiangsu Wuxi Taihu Cocoa Food Company Limited on the Industrial Park is USD 600 million”.
Aregbesola described the multi-billion naira investment partnership as part of his administration’s efforts to raise the bar of local and foreign investment in the state, just as contended that “the agreement would go a long way to support the economic drive of the state, particularly in the quest for industrialisation”.
The project is expected to take-off by January 2018 as the state was ready to give all possible support to actualise the success of the proposed Industrial Park.
According to the agreement, “on November 28, 2017 Jangsu WUXI TAIHU Cocoa Food Co., Ltd. held talks with the Osun State government, Nigeria on the investment in the establishment of Industrial Park in Osun State. Through full communication and negotiation, both sides reached resolutions which are summarized as follows:
“The Osun Government of Nigeria agrees that Jiangsu Wuxi Taihu Cocoa Food company Limited will invest to establish the Industrial Park in Osun State who will allocate 200 hectares of land for the Industrial Park. The total investment by Jiangsu Wuxi Taihu Cocoa Food Company Limited on the Industrial Park is USD 600 million”.
“The first phase of the project includes six projects: Cocoa bean processing, chocolate and food processing, salt processing, cassava starch processing, gold mining and power plants.
“The construction project of Jiangsu Wuxi Tiahu Industrial Park will strictly abide by the relevant laws and regulations of the State Government of Osun and the Federal Republic of Nigeria. The government will provide policy guidance for the construction of JiangsuTaihu Wuxi Industrial Park and give support of energy, infrastructure, and other aspects. After the completion of the project, favourable tax terms will be given”.
“The state government will set up a working group for the construction of Jiangsu Taihu Wuxi Industrial Park, which is responsible for the docking and service with China. The two sides agreed that the project would start in 2018”.
In his remarks, the General Manager of Jiangsu Wuxi Taihu Cocoa Food Company Limited, Mr. Liu Jianhui, lauded Aregbesola for exploring possible opportunities to develop the state commercially.
He said the company decided to establish $600 million worth projects in the state, having understudied the economic potentials of Osun to grow foreign investments.
Liu Jiangsu, just as assured the state of a fruitful partnership that would bring change to the economic activities of the state and as well create a robust bilateral economic relationship between the state and Chinese firm.
Jianhui said the investment will generate employment opportunities for the youths, thus creating wealth and employment for the state’s citizens.
African Newspapers of Nigeria
