• Thursday, July 25, 2024
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Ellah Lakes announces joint venture SCPZ with Enugu State Government

Ellah Lakes says to conclude special equity placement by Q1

Ellah Lakes Plc has entered into an agreement with the Enugu State Government through the Enugu State Technical Committee on Privatisation and Commercialisation, for the expansion and further development of the Ada Rice Company and plantation in Adani, Uzo-Uwani LGA, into a Staple Crop Processing Zone (SCPZ) in Enugu State, Nigeria.

Ellah Lakes will produce and process rice with the participation of over Two Hundred (200) indigenous Farmers in the local out-grower program.

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Ellah Lakes will also develop a Feed Mill and Ethanol processing plant on the site in Adani. The development is expected to create a minimum of Five Thousand (5,000) jobs over the next 24 months, and work is scheduled to begin immediately.

Speaking on the development, the Chief Executive Officer, Chuka Mordi said: “This is a significant landmark for the Company in fulfilling our strategic objective of diversifying our portfolio and production base, and we are very excited to be working with the Enugu State Government. We are very pleased at this collaboration with the very progressive Government of Enugu State. For us, this is the beginning of a great journey to expand the industrial base of the state, and we look forward to a mutually beneficial, valuable and fruitful venture.”