A CHINESE company, Tidfore Heavy Equipment Group has signed a $200m-Memorandum of Understanding, MoU, with Benue State government for the construction of a sugar refinery in the state.
The agreement which was signed yesterday in Changsha, Hunan Province, China, would ensure the completion of the project within the period of two years.
Deputy General Manager of the firm, Mr. Danil Zhang, who signed the MoU on behalf of the company, said that work would commence immediately after the completion of paperwork.
Benue State Commissioner for Industry, Trade and Investment, Dr. Tersoo Kpelai, Dupty general manger, Tidfore Heavy Equipment Group, Mr. Danil Zhang, and Chairman, Blue Diamond Logistics,China, Mr. Festus Mbisiogu at the signing of a Memorandum of Understanding in China between Benue State government and Tidfore Heavy Equipment Group for the construction of a sugar refinery in Benue.
Benue State Commissioner for Industry, Trade, and Investment, Dr. TersooKpelai said the value chain of the project would create 1,000 direct labour and more than 2000 indirect labour when completed.
He also added that the sugar company would also generate electricity for the people of the state.
Also speaking, the facilitator of the signing of the MoU and Chairman of Blue Diamond Logistics, Mr. Festus Mbisiogu, said the state was chosen for the project given the commitment of the state governor, Chief Samuel Ortom to accountability and transparency.