Dipo Olowookere
By Dipo Olowookere
Two hundred hectares of land have been allocated to facilitate the establishment of an Industrial Park in Osun State.
The project would cost about N216 billion and would be completed in conjunction with a Chinese firm, Jiangsu Wuxi Taihu Cocoa Food Company Limited and would take-off by January 2018.
Last week, the state government and the private company signed an agreement to begin the establishment of the park, which is set to transform the state economically.
Speaking at the ceremony, the Governor of Osun State, Mr Rauf Aregbesola, explained that the project will support cocoa bean processing, chocolate and food processing, salt processing, cassava starch processing, gold mining and power plants, describing the deal as part of his administration’s efforts to raise the bar of local and foreign investment in the state.
According to him, the Chinese firm decided to establish $600 million worth projects in the state, having understudied the economic potentials of Osun to grow foreign investments.
”On November 28, 2017 Jangsu WUXI TAIHU Cocoa Food Co., Ltd. held talks with the State Government of Osun, 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 $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 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,” he said.
In his remarks, General Manager of Jiangsu Wuxi Taihu Cocoa Food Company Limited, Mr Liu Jianhui, commended the Governor for tapping possible opportunities to develop the state commercially.
He assured the state of fruitful partnership that would bring change to the economic activities of the state and as well create a robust bilateral economic relation between the state and Chinese firm.
“We have very strong confidence in the fact that the partnership would in no distance time bring about dividends to both parties as the state’s potentials would be appropriately utilized,” he stressed.
