• As German Company Set To Resuscitate Glass Production In Ondo After Building Oluwa Glass 35 Years Ago

Ondo State Governor, Arakunrin Oluwarotimi Akeredolu, SAN, has decried importation of glass into the country despite the huge availability of the needed raw materials for its production in the Sunshine state.

The Governor recalled that when the Moribund Oluwa Glass was functional, it was supplying the then Peugeot glasses for windscreen and mirror as part of the production of the vehicles.

Governor Akeredolu spoke in his office on Thursday while receiving investors from the Horn Glass Industries from Germany led by the Chief Executive Officer, Mr Stephan Meindl.

The CEO/Chairman, ZMP Industries Limited, Mr Rotimi Ogunsanmi, was also on the investors entourage.

The Ondo State Government had signed a Public Private Partnership agreement with the ZMP Industrial Limited for the establishment of 600 Tonnes per day capacity float glass factory in Igbokoda, Ilaje Local Government Area of the state.

The technical partner for the project, Horn Glass Industries, built Oluwa Glass over 35 years ago.

Receiving the investors in his office, Governor Akeredolu said there is no better company to establish glass factory in the state than the Horn Glass Industries having been involved with the establishment of the Oluwa Glass over three decades ago.

He said: "You are involved with Oluwa Glass and you are the one that built it. I don’t think there is a better company to start a new state-of-the-art Glass Company than you.

“Importation of glass into this country is unfortunate. Oluwa Glass was the one supplying Peugeot windscreen and glass. But government involvement in Oluwa Glass killed it.

“But today, we have equity participation. We are not going to stiffen anyone who is interest in developing the state. Our participation will be minimal so as to make it effective.”

Governor Akeredolu charged the investors to be time conscious, adding that time is of the essence.

“Time is of essence. We are running against time. Please start now. Undoubtedly, we are waiting. The state will be glad to have a glass factory back after 35years,” he noted.

Horn Glass Industries Chief Executive Officer, Mr Stephan Meindl, said his firm is ready to establish the glass factory with modern technology and unwavering commitment.

The Secretary, Ondo State Development and Investment Promotion Agency, Emmanuel Omomowo, who explained the process and terms of the Memorandum of Understanding (MoU) signed, said the Sunshine state is endowed with Silica Sands which has a the raw material needed for the glass production.

“We need to bring in high-net-worth investors to actually collaborate with the state to develop our silica resource and the value of this investment is over 250 Million Euros and when it is converted to Naira, it is over 162 Billion Naira.

“The State Government in this project is having the stake of over 20% while the investor, ZMP Industrial Ltd. has 80% and ZMP Industrial Ltd. is also working in collaboration with a renowned technical partner called Horn Glass Industries.

“That the technical partner, Horn Glass Industries was the one that built Oluwa Glass and now they are coming now to build a new green field glass factory and because it is a joint venture and we have an SPV, Special Purpose Vehicle to drive it.

“It will create a lot of employment, we can talk of investment value that is worth over 160billion that is coming to the State. It will also have other multiplier effects within the State, it is going to enhance our economy, it is going to create job employment, expand our revenue business.

“It is a great deal that is actually coming to the State. And going through their profiles, they have the technical expertise. That is why we are talking of project reference that Oluwa Glass developed over 30 years ago which is going to be built again with newer technology, with a better approach. So, it is a good deal for the State,” he said.

Richard Olatunde
Chief Press Secretary to the Governor of Ondo State.
September 23, 2021.

https://www.facebook.com/100044230756186/posts/408527150631640/?app=fbl

This will resurrect the moribund economic activities in Okitipupa, Igbokoda and environment if it is not a paper and television dividend of democracy


FTC

Kudos to Arakunrin Rotimi Akeredolu.
This is what I expect state Governors to do,revive old and dying companies or encourage foreign investors to build one which will eventually boost state IGR.

I just want all states in Nigeria to be self sufficient instead of running to Aso rock to collect monthly allocation as if it's their birth right.

We just have to vote out lazy governors and send them to prison for being daft,corrupt and lazy.

We should just get it right for once....

The man is not only politically savvy, but economically savvy as well. This is what we need from all of our leaders. May God ok continue to bless him and give him wisdom to properly lead.

i just love Aketi so much jare keep moving baba mi

Kudos to Governor Akeredolu! Way to go. Other governors should also look towards bringing investments to their states.

Later, the North will want the biggest share after all this hard work. Yeye dey smell.

While some people are enforcing sit at home for their own people. Una go sit at home for 500 years.

Like for ondo..

share for sit at home


Thread seen...

Sketi on the beat

Other politicians finding ways to chop some funds from the development, then later the investors will be frustrated away from the project.


Na so a king gisted us that, they asked one honourable to choose either majority leader post or have an institution in his constituency while his contender choose the higher institution, his past decision has got the present generation to be surfering.

He was like, he wants the majority leader post .

Chai, that old man will never rest in peace, in his deep six.

Wow. The dead bones shall rise again. I've heard about the glass company during one of my visits to that part of Ondo state. I just dey shake head for my country when the driver and one elderly woman was talking about the companies that had crumpled there.

Highly commendable

On the move to economic emancipation

Ondoforstbon,you are the commissioner of information.

The gov is making moves and is 1000 times better than Buhari.

Na so we dey hear

Elrufai in pains


Can other SW Governors act fast as well..

Most especially Daru Dapo of Ogun

Good move

winterlover:
While some people are enforcing sit at home for their own people. Una go sit at home for 500 years.

Calm down Mr and face your front..

Nice.

Ondo State needs to wake up. There are lots of natural resources lying fallow in the state.

Btw, has the bitumen factory started production or was it all election stunt?

DropsMic:


Calm down Mr and face your front..

Baba, leave that one. let's talk biz. I want to build a website.

Ondo need to find partners to develop the Bitumen reserves, this is an mineral product can transform Ondo into a leading economic block

Same old stories

Aketi

kmcutez:
Later, the North will want the biggest share after all this hard work. Yeye dey smell.

Why can't you make your opinion without mentioning the North for once?
All these blame game can't help us as a Nation.

Ok

ONDO IS KNOWN FOR GREATNESS