The SKYRUN group, a state run industrial giant in China has officially received the factory site of Resin Paints, Aboh-Mbaise in Imo State, which was handed over to the Chinese company by Governor Rochas Okorocha, for the production of electricity prepaid meters, cables, television sets, among other electrical materials.
The handover on Thursday, marks the official stamp for the corporate company from China to commence real business at the site.
Resin Paints Plant was the brainchild of father of old Imo State, late Governor Sam Mbakwe, among a plethora of other industries he set up in the early 1980s, in what is today’s Imo, Abia and parts of Ebonyi states.
Other industries include: Golden Guinea Breweries at Umuahia – Abia State; Eastern Bulkcem at Nkalagu – Ebonyi State; Independent Power Plant at Amaraku – Imo State; Imo Modern Poultry at Avutu, Obowo LGA – Imo; Ceramics & Clay Industry at Mbano (Imo); old Imo State University, Okigwe, now Abia State University, Uturu; Imo State Water Board, among many others.
The Resin Paints factory was fully repurchased in a buy-back deal with the assistance of Zenith Bank Plc by Governor Okorocha’s administration from the Nigeria Deposit Insurance Corporation (NDIC), and restored back to Imo state government and Imolites (Imo people).
The Paints factory’s sale and repurchase had amazingly traversed from state, personal, corporate and back to state government ownership.
Hence, Okorocha announced on Thursday that the property is no longer the property of anybody, but the property of Imo State government; now being handed over to Skyrun Group of China, in a credible privatization effort.
He commended the cooperation of NDIC and assistance of Zenith Bank Nigeria Plc in the buy-back process.
The executive general manager of Skyrun, Shai Shao appreciated the venture; pointing out that the corporation has been in Nigeria for some years now; but would opt to begin power projects in Imo.
Shao also asked for a hand-of-fellowship with the indigenes of Aboh-Mbaise to operate freely.
Governor Okorocha said it was in the bid to shop for and attract investors that he met with Skyrun, a renowned Chinese corporation which showed interest to do business in Imo State, beginning with Resin Paints where they would produce prepaid electric meters, fridges, televisions and other electronic home appliances.
He said the factory would attract good business from around Africa and beyond, and also generate employment for Imo citizens.
He chipped in that Aboh Mbaise people couldn’t ask for more, with the opening of Resin Paints, the Ngor/Aboh University campus coming on stream soon, and the Enyiogugu Secondary School he promised to rebuild.
BEN EGUZOZIE
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