• Friday, July 19, 2024
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Firms propose $550m trade centre, dry port investment in Ogun


A group of foreign and local investors, including Hull Blyth Nigeria has proposed to locate a Trade Centre and Dry port worth about $550 million at different locations in Ogun state with a possibility of creating thousands of direct and indirect jobs for Nigerians.

BusinessDay gathered that the investment on Trade Centre which was planned to house automobile, building and construction as well as electrical appliances market would cost $500 million, while investment on Dry port proposed to be located at Wasimi in Ewekoro Local Government Area would cost $50 million.

Speaking in Abeokuta on Wednesday during a business meeting with Bimbo Ashiru, Ogun State Commissioner for Commerce and Industry, Christian Holm, Managing Director, Hull Blyth Nigeria, a Shipping and Cargo Services company disclosed that the construction of the Dry port in the State would serve as an extension of Sea ports in Lagos state when completed.

Holm said the construction of the proposed Dry port which would be undertaken by Hull Blyth Nigeria, a Century-old Shipping and Cargo Services firm would be completed within a year, saying: “we want to take advantage of the State nearness to Lagos as well as its conducive business environment”.

 Similarly, Collins Mbaigbu, a local investor who led a team of other investors to the State for a discussion on take-off modalities, disclosed that the team chose the State as investment destination owing to its proximity to other states and a gateway other countries, adding that the enabling business environment created by the State government invited them.

He said, “Our interest spans automobile, building and electrical appliances among others. We are ready to bring our investment worth $500 million into the State; we want to establish a Trade Centre. Our decision about this was made taking into consideration the nearness of the State to others and the deliberate steps being taken by the State government to encourage and attract investments through provision of infrastructures”.

 Responding, Bimbo Ashiru said that government was ready to fast track the acquisition and allocation of land to prospective investors in addition to required infrastructure and security, just as he expressed satisfaction with the influx of investors to the State.

 Ashiru noted that the influx of industries and investment into the state was a clear indication that the State was taking right steps in its industrialisation drive, but he however warned that government would not condone acquiring lands for speculative purposes to the detriment of its industrialisation drive.

 “We don’t want people to buy lands for speculative reasons, investors coming into the State must be ready to use land for what it is requested for,” Ashiru warned.