Cargo Airport: Benue Signs MoU with Petrolex, CDC Group

By November 29, 2017 Investment News

The Benue State government has signed a Memorandum of Understanding (MoU) with Petrolex Group and the Cargo Development Company (CDC) for the construction of a gas turbine and other economic development projects in the state.
Speaking during a brief ceremony weekend at the Government House in Makurdi, the Chairman of Petrolex, Otunba Segun Adebutu, said that Benue was strategic to the firm’s next investment destination for its N20 billion Oil and Gas project.

Adebutu said the project would include the construction of 100-250 MW gas turbine power plant, Jet A1 Aviation farm and over 30 retail gas and petrol stations across the state.

The chairman opined that the project would unlock economic potentials of the state and create job for its teeming unemployed youths as he commended Benue state government for keying into the opportunity and the President Muhammadu Buhari’s administration for the growth enhancement programme in the country.

On his part, the Facilitator of CDC Group, the Concessionaire for the Cargopolis Makurdi Airport, Robert Orya, expressed optimism that the project would address issues of post harvest losses by farmers in the state, increase warehousing and semi processing facilities in about seven local government areas.

“The airport will be a hub to Nigeria and Africa at large. Benue is largely and agricultural state, we have challenges of preserving and storing our farm produce,especially fruits and vegetables, the project if completed would tackle such issues,” he said.

Orya said in the course of the project, a minimum of 15 pilots would be trained, adding, that the duration of the project will be 24 months with the state government contributing only 15 per cent to the tripartite agreement.

Meanwhile, the Chief of Staff to the Benue State government, Terwase Orbunde who stood in for Governor Samuel Ortom, noted with delight that the tripartite agreement in which the state is an equity partner would harness the economic potentials of the state.