Ogun State government has signed a $400m Memorandum of Understanding, MoU with a foreign firm, on the development of Olokola Free Trade Zone and Remo Agro Processing Zone.
Speaking after signing the MoU at the Executive Chamber, Oke Mosan Abeokuta,
the Founder and Chief Executive Officer of the firm, Mr Gangan Gupta, explained that $400m would be used for the completion of phase one of the projects.
Mr Gupta noted that the intention of the Firm was to ensure that work starts on the industrial zone in July this year, adding that the firm would also focus more on the upstream sector.
Responding, Ogun state Governor, Prince Dapo Abiodun who pointed out that the projects would create over 25,000 jobs, said the Foreign Firm would also set up a technical training centres at the Zones to train artisans for the sustenance of the projects.
Governor Abiodun added that his administration would continue to encourage more investors whose investments would not only enhance the socio-economic well-being of the people, but also retain the state’s position as the industrial capital of the country.
Bolanle Adesida
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