Gov Otu Signs Pact For €2.5bn Private Sector Investments
To improve the quality of life for the residents of Cross River State, Governor Bassey Otu has signed agreements with private companies for foreign direct investments totaling more than €2.5 billion.
The pacts are a part of the state’s initial round of private-sector investments.
Urban waste management costing €1.2 billion, Calabar water treatment costing €700 million, and intra-city public transport costing €20 million are among the investments.
The N10 billion ICT skills development centre in Obanliku and the N500 million cassava processing industries in Odukpani are two more.
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After the signing ceremony which took place at the office of the Secretary to the State Government, Prof. Anthony Owan Enoh yesterday, the chairman, State Policy Advisory Council (SPAC), High Chief Eyo Etim Nyong, assured the investors of the state government’s willingness to provide a friendly atmosphere for investment.
He solicited a higher percentage of employment opportunities for youths in the state, stressing that as corporate organizations, they owe the state some corporate social responsibilities.
The council also signed a memorandum of understanding with an investment consulting group, Zedo Haytch Group from the United Arab Emirates to market the states’ investment opportunities in the Middle East.
