This was announced during the signing of Memorandum of Understanding (MoU), between Folio Holdings Ltd, and the Anambra State Government, at Governor’s Lodge, Amawbia.
The project is to be sited an Awba-Ofemili, Awka North Local Government Area (LGA), Anambra State.
It will be in a partnership with Triton Aqua Africa Ltd., Alluvial Farm Nigeria Ltd, and Choice International Group.
Signing on behalf of the Anambra, Gov Willie Obiano said the state under his administration, had promoted agricultural production to strengthen the economy and create food sufficiency for the state.
Obiano said he had invested not less than, N2 billion in supporting farmers, saying the state had not less than, 500 Cooperatives that had commenced recruitment of youths in various segments of the economy.
“We have started recruitment of youths, especially in agriculture to give them basic rudimentary training in agriculture.
“Before my administration, the GDP of the state was 1.8 trillion, but currently, it has grown to N3.9 trillion.
“From records, my administration has contributed N200 trillion to growth, making it N300 trillion,” governor said.
Obiano notes: “It is expected that work will commence, six months from the date of issuance of Certificate of Occupancy, and failing to do so, the land will revert to government’’.
The governor, who assured the investor of continuity in making the state business-friendly, said that government had not less than 90,000 hectares of land in the land bank, ready for investment.
The Managing Director, Anambra State Investment Promotion and Protection Agency (ANSIPPA), Mr Joe Billy Ekwunife said the 4,000 hectares agro allied farm, which is for rice production would always include an agricultural training institute.
He said it was expected to have a three-year development timeline.
Ekwunife enumerated various benefits of the projects to include, the creation of 800 direct and 4,500 indirect jobs and food sufficiency.
According to him the sharing ratio is on a net profit with the investor having 86.45 per cent state, 8.55 per cent, while the host community would get 5 per cent for civil responsibility.
Chairman Board of Directors, Folio Holdings Ltd, who doubles as Chairman, Daily Times Newspaper, Mr Fidelis Anosike, said they were attracted to the state because of security measures in place by the state government.
Mr Anosike noted that the project, when commenced, would project the state and boost socio-economic activities and as well create jobs for the youths in the state.
“We assure Government that Folio Holdings Ltd, will live up to our commitments under the terms and conditions of the MoU.
“We encourage Anambra people to heed governor’s clarion call and join hands to make Anambra State an Economic Power House,’’ Anosike added.
The Commissioner for Agriculture, Mechanisation, Processing and Export, Mr Afam Mbanefo said the project would add to the agricultural development and investment in the state.
He noted that it would always improve production of commercial activities across the board and encourage youth participation in agriculture.
The representatives of the development partners, Triton Aqua Africa Ltd, Von Kemedi, Alluvial Farm Nigeria, Mr Yashpal Jain and Choice International Group, Chief Diana Chen, stressed that they would commence production in line with the specification, using their knowledge in agriculture to make the state `food basket’ of the nation.
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