Indigenous firm to invest $150m in power, rice production A leading indigenous agricultural firm in Nigeria, Joseph Agro Industries Limited (JAI), has signed a backward Integration Memorandum of Understanding (IMoU) with the Anambra State Government to invest an initial $150 million (about N25 billion) for the rehabilitation and expansion of the Omor Rice Mill under a Public-Private Partnership (PPP) arrangement.In a press statement by the company on Wednesday and made available to the Nigerian Tribune, the Executive Director, JAI, Ken Irhiogbe, said that China Machinery Equipment Corporation (CMEC), a leading global EPC provider, has been appointed a technical partner to support in up-scaling the mills current capacity of 18,000 metric tonnes (MT) to an initial 100,000MT. The CMEC will also assist in the development of 14,000 hectares of land into irrigated paddy fields and construction of a green energy bio-mass power plant in Omor, using rice husk as feedstock.As part of its long-term strategic objective to ensure sustainability through technology transfer, we will collaborate with the Confucius Institute, Nnamdi Azikiwe University, Awka, to produce Chinese-speaking Nigerian students to understudy best rice technology practice, he stated.Furthermore, Irhiogbe highlighted that JAIs objective was to produce 167,000 metric tonnes of rice paddies using two cropping seasons while another 15,000 hectares is under negotiation, for development into highly irrigated rice paddy fields. In his address, the statement quoted the Governor of the State, Chief Willie Obiano, as follows: I commend JAI for supporting the State Governments cardinal points and objectives for agriculture and also in the process providing job opportunities for over 10,000 indigenes by using the out growers scheme. This development will greatly enhance the economic development of the State and Nigeria.He emphasised that with the progress already made by the State in rice production, will almost eliminate the states supply deficit. Governor Obiano later observed that the completion of the project will translate to accelerated development of human and technical capacity which will in turn enhance rice production in the State. He also noted that with the project coming on-stream, it will have direct impact on the growth of internally generated revenue for the State.
Posted on: Fri, 26 Sep 2014 23:57:02 +0000
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