Governor Otu attracts FDI, signs €2.5bn private sector investment

Cross River State governor, Senator Bassey Otu, has signed a number of foreign direct investment valued at over €2.5bn in the state

The packages are part of the first set of private sector investment attracted to the state in consonance with his manifesto of offering the citizens a ‘Season of Sweetness.’

The private sector investments are; €1.2bn urban waste management, €700m Calabar water treatment, management, and recirculation, as well as the €20m intra-city public transportation using Compressed Natural Gas (CNG) powered vehicles.

Others are N10bn ICT skills development hub in Obanliku and N500m cassava cultivation and processing plants in Odukpani.

Speaking after the signing ceremony, SPAC Chairman, High Chief Eyo Etim Nyong, assured the investors of the readiness of the current administration to provide conducive environment for investment.

He appealed for greater employment opportunities to Cross-Riverians, adding that as corporate organizations, they owe the state some corporate social responsibilities by providing social services to their host communities and the entire state.

Nyong said that SPAC, as part of its functions, would continue to render advise on all projects, policies and programmes aimed at impacting tremendously on the citizenry in line with the ‘people first,’ mantra of the Otu-led administration.

The sign-on ceremony for the various investment portfolios took place at the office of the Secretary to the Cross River State Government, Prof. Anthony Owan-Enoh in Calabar.

In a related development, the Council also signed a memorandum of understanding (MoU) with an investment consulting group, Zedo Haytch Group, from the United Arab Emirates to market the states’ investment opportunities in the Middle East.

By: Archibong Emmanuel
(Snr. Reporter)

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