Sunday, January 17, 2021

Industrial Development: Governor Okowa Commends DIDA Partnership With DELFRASCO Industries To Deliver N15.2 Billion PTP

...Says Industry To Be Africa first and Largest Local Content Industrial Complex, And Delta to be hub of power Technology and Equipment Production

....Nmah Says Industry to Improve Delta Youths Employment, Boost Local, State FGN IGR.

By Victor Bieni, Asaba

The Management of Delta State Investment Development Agency (DIDA) under the Chairmanship of Mr. Paul Nmah was recently commended by the Executive Governor of Delta State, Sen. Dr Arthur Ifeanyi Okowa on their efforts on partnership with DELFRASCO Industries Ltd to deliver $40 Million US Dollar (N 15.2Billion) Power Transmission Project (PTP)

Governor Ifeanyi Okowa disclosed this to Newsmen recently while performing the ground- breaking ceremony at the project site held at KM 25, Benin/Asaba Expressway, Issele-Uku, Aniocha North LGA, Delta State.

He said that the Public Private Partnership (PPP) Initiative between Delta State Government and DELFRASCO Industries Ltd will promote more Industrial development initiative towards Youths employment, investment development and sustainable socio-economic development of Delta State, while he Commended Issele-uku Community for their support and cooperation with the state government, also the project partners, Delta Investment and Development Agency (DIDA), for its unwavering commitment and tenacity today the actualization of the Agency vision and mission.

Governor Okowa said: “The location of this industry demonstrates your confidence in Project Nigeria, while giving kudos to our administration’s industrialisation drive. It is my earnest expectation that this project will flourish, and that God will reward you abundantly for taking the bull by the horns.
“Upon completion, this will be Nigeria’s and indeed, Africa’s first and largest multi-industry local content industrial complex, providing products and services to power, oil and gas, telecoms, agriculture and other industries. Major customers are expected to include Transmission Company of Nigeria, Nigeria LNG Train seven Projects, EPC Contractors in Energy and Infrastructure Projects and telecomsinfrastructure providers".

“It is envisaged to meet the present and future demands for tower manufacturing in Nigeria as well as the whole of Africa, and contribute positively to the socio-economic development of Delta and Nigeria. Industry when completed, the industry would position Delta as a hub for production of power technology and equipment, adding that it would be the first in Africa".

“I specially appreciate the board and management of DELFRASCO, for this bold initiative.It takes a lot of faith and courage to venture into manufacturing in an economy that is mired in turbulence as we have experienced in recent times. The location of the industry here, demonstrates your confidence in Project Nigeria; it is my earnest expectations that the project will flourish and that God will reward you abundantly for taken the bull by the horns".

“I commend the project team in Nigeria, Indian and the United Kingdom, who are collaborating with DELFRASCO, the project promoter, to ensure that this project gets off the ground.
When fully operational, it will improve the economy of the state and the nation, create jobs and contribute to revenue generation to the local government, state and the Federal Government, as well as generate foreign exchange for the country".

DELFRASCO, Project Chairman, Chukwuma Okolo said that the project would be completed in 2022. He said: "The industry will engage in manufacturing of power transmission towers, world class research and training facilities. It will manufacture hot dip galvanising plant as well as ensure transmission tower testing which is currently done abroad.
This is a world class project, first in Africa and when completed, will create employment for youths, generate and save much foreign exchange used in purchasing the power facilities from abroad for Nigeria".

He thanked the Federal Government and the Central Bank of Nigeria for giving a boost to the investment through policies and financing programme for the real sector. He also appreciated Okowa and all its partners within and outside the country for their commitment and resolve to ensure the projects came to fruition. The first phase of the industry will be ready in the first quarter of 2022, while the entire project will be delivered before the end of 2022”.

The Chairman, Delta State Investment Development Agency And Executive Assistant Governor Okowa on Investment Matters, (DIDA Boss), Mr Paul Nmah, while delivering his speech stated that the project groundbreaking was a product of Governor Okowa's investment development drive towards 21st century industrial revolution to boost Youths employment, viable socio-economic and sustainable development which be said is in line with the Smart Agenda Policy of this present Governor Okowa's administration targeted at revamping the state’s economy.

Mr Nmah stated further that, the project was worth 40 million US dollars, that is, equivalent of N15.2 Billion Naira, while he added that the local content industrial complex when completed, it would positively impact the internally generated revenue of the local, state and Federal governments.

In the words of the Delta DIDA Boss in his goodwill message at the event : "The State government had put plans in place to de-risk the project by putting its equity contribution to it.
I commend His Excellency, Sen. Dr. Arthur Ifeanyi Okowa on his investment development drive in the State, His Deputy, Barr. Kingsley Burutu Otuaro, Delta SSG, Hon. Barr. Chiedu Ebie, Members of the State Executive Council, and DELFRASCO Industries LTD Management, and numerous others to mention but a few".

"I also thank everyone present in this Groundbreaking ceremony. The Traditional Rulers, Religious leaders, Financial Institution Stakeholders present, Board members of DIDA, Management and Staff of DIDA, Commissioners who were members of the Groundbreaking ceremony, My brother, Hon. Ifeanyi Egwunyenga, the President-General Issele-Uku, Chief Kenneth Ofordili, other critical Stakeholders present and members of the press. I thank the entire Delta's for their support and actualization of this feats".

"I thank His Excellency, Governor Ifeanyi Okowa, and the investors for the project and pledge our commitment to protect and ensure that the project thrive. I also thank all those who grace this occasion: Different Local, State, and Federal Government Agencies, Departments, and Ministries, officials of MAN, DACCIMA, SMEDAN, NASSI, other organized Private Sector, and those in the Manufacturing and Banking sectors for your support and actualization of this great feats".

The high point of the ceremony was the laying of the foundation stone by Okowa which was witnessed by the deputy governor, Kingsley Otuaro, traditional rulers among other dignitaries.

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