Delta will Provide $10million Counterpart Fund to Investors

By October 25, 2019 Investment News

Governor Ifeanyi Okowa of Delta has stated that his government was ready to provide $10million (over N3.5billion) counterpart fund for prospective investors towards the construction of Kwale Industrial Park in the state.

Governor Okowa made this known at Kwale Industrial Park roadshow in Shenyang, China on Tuesday, October 22. The governor is in the country to source for and meet potential investors as he seeks to industrialize Delta state.

At the event which was attended by Chinese Government officials and potential investors, Okowa outlined the vision of the state government for an aggressive industrialization agenda.

“Nigeria is open for business and I make bold to say that Kwale Industrial Park is a compelling investment choice. “I want to say upfront that locating in Kwale, an industrial park opens your business to Africa’s biggest market. Nigeria, and Africa as a whole is the world’s next frontier business to benefit from that growth.

“In Delta, we are working relentlessly to make Kwale the most investor-friendly location in Nigeria. It is a peaceful community and the support and cooperation of the community is already assured,’’ the governor told his audience.

The governor revealed that the $10million counterpart fund is to support investors that are able to make an early decision to set up their plants in the park. He said the money will be used to de-risk investments, while hoping that such equity contribution lure investors to venture into the park.

The highpoint of the roadshow was the signing of a Memorandum of Understanding between Delta government and a Chinese agricultural company to grow and process soya bean at the park. Governor Okowa recently inaugurated the Delta state advisory and peace-building council.

The governor said that the main responsibilities for the council include studying Delta’s general socio-economic and political situations and offer advice to his government for onward action.


Source: Legitng