Abia Signs MoU To Build Industrial City...

Abia state government has signed a Memorandum of Understanding (MoU) with a private firm under a Public Private Partnership to build and develop an industrial markets city-Abia International Industry City (ABIIC)-for traders and other business ventures that would be comparable to international standard.

Governor Theodore Orji during the MOU signing at the Government House, Umuahia, said the desire to bring in private investors in the area of trade and commerce is part of the vision of expanding the horizon for industrialization of the state.

He expressed optimism that the project would be a huge success, while the chairman of ABIIC; Dr. Babatunde Obada, disclosed that the project is a done deal and realizable by 2014.

He appealed to the governor to make a ‘monumental pronouncement’ about the project because it would help to encourage traders to participate effectively in the project.

According to Dr Obada, the reason to build the industrial city in Abia is to further encourage trade and commerce, as the enormous business acumen acquired by the traders over the years would be at play and the company may not spend much if the traders are fully involved.

Anticipating ground breaking ceremony in three months’ time when the rains must have subsided a bit the firm intends to complete the project by December 2014 having laid down maps and strategy to work within the time frame.

The bank financing the project also explained that their involvement with the company is to support SMEs and allow traders own their shops instead of renting it which at the long run with proper sustenance can lead to trade export in Aba

The ABIIC is a plan is to include Africa Continent among the industrialized city in the world.

After the signing of MoU Mr Orji noted that the state is attracting investors from all part of the world because of the safe and secure environment which is a plus for investment to thrive.

The large market is expected to be sited at Aba the commercial hub on completion would consist of many industrial clusters.

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