11.4 Million US Dollars Modern Abattoir s due for Anambra state

www.odogwublog.com reports that Governor Willie Obiano yesterday signed a Memorandum of
Understanding with Integrated Farms Limited for the construction and management of a modern abattoir in the State. 
The MoU which is worth 11.4 million US dollars is for the hygienic slaughter, processing and packaging of livestock for edible meat and has 90% percent of the Equity ownership of its Special Purpose Vehicle, SPV coming from the investor and the remaining 10% from the State Government.

The allocation of royalty, profit and loss is to be shared among the state government and the investor according to their respective equity ownership while 5 percent of the annual dividend will be devoted towards the project's social responsibility to the host community.

Performing the function, Governor Obiano said the latest MoU brings to about 2.4 billion US dollars, the total amount attracted by his government in investment in the past one year.
According to the Governor, the project is one of the numerous others his administration has initiated across the various sectors with a view to securing a new lease of life for Ndi Anambra.                          
   He noted that his administration having beefed up security in the State and taken proactive measures to improve power supply to Industrial clusters across the state, the coast is now clear for investors to bring their investment into the state, expressing delight that Ndi Anambra are now heeding the call by government to think home.                   
  While assuring of his total commitment towards supporting the project, Governor Obiano charged the investor to show immediate presence on ground by taking oof with the signing of the MoU.                   
  Earlier, the Chairman of ANSIPPA, and Traditional Ruler of Umuoji, Igwe Cyril Enweze revealed that the project will create jobs through direct and indirect avenues for Ndi Anambra in line with indigenous content policy as well as ensure transfer of expertise to other operators in the meat industry, attributing the realization of the MoU to the immeasurable cooperation the ANSIPPA enjoyed from the Ministry of Health.                        
The Chief Executive Officer of the investing company, Engineer Azubuike Onowu explained that the project not aimed to displace the incumbent Operators in the State Meat industry but to support them improve on their practice with a view to availing Ndi Anambra Quality service delivery.             
      For his part, the Managing Director of the Company, Engineer Dozie Abajue thanked Governor Obiano for the opportunity given them to invest in the state and assured that the project will fully commence operations in line with its terms of reference within the next 15months.                 
       Also speaking, the Managing Director of ANSIPPA, Chief Joe-Billy Ekwunife restated the commitment of the Agency to drive the Governor's vision to effectively engage the Private Sector in transforming the State Economy, describing the project as human oriented.            
  In a vote of thanks, the State Commissioner for Lands, Mrs Stella Onuorah said Ndi Anambra are blessed to have a leader like Governor Obiano whose resolve to improve their living condition is unflinching and commended the conducive investment environment he has enthroned in the state.                 
        Highlight was official signing of the MoU by the Governor and the Partners.

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