Firm said it is ready to invest $500m on tree plantation for paper production in Ogun State.
A statement by the Ministry of Industry, trade and Investment, Ogun State, said on Thursday.
It said a working partner Prince Bayo Ikujenyo, in Dahua, disclosed this when the Commissioner, Industry, trade and Investment, Kikelomo Longe, paid a visit to the company.
The company stated that the project, a 10,000 hectare tree plantation, would be segmented into tranches of 2,500 hectares each year for four years.
Ikujenyo said the company had sought the approval of the state government for the 10,000 hectares of land required, as the project would also require a minimum of 5,000 directly employed workers.
READ ALSO : U.S. judge has until next week to decide if Abidemi Rufai should be released on bail
He said the project would create two million jobs indirectly, generate foreign exchange through exports, and strengthen the currency.
Ikujenyo also disclosed that the company was already expanding the capacity of its paper recycling plant from a daily production capacity of 500 tonnes to 1,100 tonnes.
He lauded the present administration for providing enabling environment for businesses to flourish in a deliberate manner
The statement said Longe assured that her ministry would work with the ministry of forestry to accelerate the processing of the 10,000 hectares of land requested by the company.
READ ALSO : Sanwo-Olu, Dapo Abiodun plan tolls for Lagos, Ogun roads
Ogun State Government said she would continue to create enabling environment through the provision of infrastructure and implementation of business-friendly policies.
Speaking during the interactive session, Remi Ogunmefun, the Special Adviser to the Governor on Industry, Trade and Investment, said that Ogun had been deliberate in its approach towards attracting more investments and helping them grow.
READ ALSO : Police arrest Nine suspected cultists in Ogun
He said the state was focused on remaining investors’ preferred destination in Nigeria.
The ministry’s Permanent Secretary, Olu-Ola Aikulola, called on firms to continue to engage the ministry for the necessary assistance on issues that would help their businesses grow, adding that the government was willing to support the expansion of businesses in the state.
