-Blank NEWS Online (NIGERIA) –By Sylvester ILOBA:
The Delta State Government has signed a Memorandum of Understanding with a private company, Enfrasco Ltd for the establishment of a Transmission Tower Manufacturing & Testing, Industrial Fabrication and Hot Dip Galvanization Facility at Issele-Uku in Aniocha Local Government Area of Delta State.
The signing formality took place in Asaba with the Chairman Delta State Investments Development Agency (DIDA), Hon. Paul Nmah and the Director General of the Agency, Olorogun Lucky Oghene-Omoru signing on behalf of the Delta State Government while the Project Chairman & Sponsor Mr. Chukwuma Okolo, Director Enfrasco Ltd, Mr. Afam Ozoekwem and Legal Adviser of the Company, Mr. Godfrey Ogbolu signed for Enfrasco Ltd to officially commence the initial process of the establishment of the Facility.
In a statement after the signing ceremony, the Chairman of Delta State Investments Development Agency (DIDA) Hon. Paul Nmah said that he was elated that the MoU had been signed to signal the level of seriousness the State Government attached to project prospects that will impact on the overall economy of the State.
He said that a project of this magnitude will ensure revenue and employment generations which are key concerns of His Excellency Sen. Dr. Ifeanyi Okowa. He noted also that it will help to open up the area to various opportunities that will elevate the living standard of the populace.
The DIDA Chairman gave the assurance that the Agency will leave no stone unturned to ensure that the facility commences within the stipulated time frame.
Speaking on the scope of the Project and the overall impact on the State economy the Project Chairman & Sponsor, Mr. Chukwuma Okolo said that the Tower Manufacturing Plant with over 50,000 tons per annum capacity will produce Towers for Power Transmission from 33KV to 1000KV lines for both Nigeria and Export.
According to him it will also produce Transmission and Distribution Substation gantry structures and Telecommunication Towers.
Mr. Okolo stated further that the Tower Testing and Research Station will test Transmission Towers of various types to International Standards and is equipped with facilities to perform tests on Towers up to 1000KV and 120meters in height and it would be the largest and only facility of this type in Africa.
The Industrial Complex according to Mr. Okolo will host a 96,000 tons per annum Hot Dip Galvanising Plant to offer galvanizing and corrosion protection to Steel Structures both internally produced and for third parties and also a wide range of Structural Steel products including Street Lighting Poles and Gratings will also be produced.
Commenting on the impact on the Facility on the State economy he said it will create employment opportunities for over 1000 persons, increase internally generated revenue at State and Local government level and develop manpower for the Energy Industry.
He stated further that a Training School and fully equipped electro-mechanical Workshop that will provide services and international quality training and certification for Deltans and Nigerians which he said will complement the Skills, Training and Entrepreneurship Programme (STEP) of Delta State Government.
The Project will produce products currently being imported into Nigeria and save foreign exchange for Nigeria. It will contribute to Nigeria’s foreign exchange earnings by exports particularly with the opportunity provided by the New Africa Free Trade Agreement (NAFTA). He further stated.
Mr. Okolo noted that the DELFRASCO Project is a predominantly private sector investment with financing provided by financial institutions, private equity funds and the sponsors.
Meanwhile he said Delta State as part of its policy of attracting and derisking investments to the State has approved some investment and the provision of Land in collaboration with Issele-Uku Community.
He reiterated that the Project completion is planned for 24 months after the ground breaking ceremony.