Chinese Investors Plan $700m Agricultural Investment in Katsina
A delegation of 25 Chinese investors has inspected some areas in Katsina State to explore large-scale agricultural and renewable energy opportunities worth more than $700 million.
The Executive Secretary of Nigerian Investment Promotion Commission (NIPC), Ms A’isha Rimi, disclosed this in Katsina on Monday, shortly after the inspection. The executive secretary was represented by the NIPC Director of Strategic Services, Mr Abubakar Yerima.
Rimi further explained that the delegation was led by China Overseas Engineering Group (COVEC), a state-owned Chinese Construction Conglomerate.
According to her, the investors are interested in establishing complete agricultural value chain for rice, maize, cassava, and fisheries, alongside a 10,000-head cattle ranch.
She noted that other proposed ventures included; agricultural machinery assembly plants and a solar power facility. Rimi also said, “With NIPC facilitation, they have already committed $200 million in Niger State, which has now been expanded to $720 million.
“They also recently announced $620 million in Jigawa and $500 million in Oyo state. If they find the right opportunities here in Katsina, we are looking at similar level of investment.”
The executive secretary highlighted key project proposals in Katsina, including; a 2,500 hectares Sabke Dam for maize cultivation to produce livestock feed, and Dabiram Dam with 380 hectares for a complete fisheries value chain.
According to her, the investors also proposed Leather Processing Factory, Agricultural Research Institute for goat and cattle breeding and partnership on Goat Breeding Centre at Rimi Local Government Area.
Others she said, were; Solar Power Products Assembly Plant, Agricultural Commodities Commercial Centre in Mai’adua, and PPP with the State Government for a Special Agricultural Processing Zone and Green Economic Zone.
The executive secretary also added that the projects would require about 4,000 hectares of land, with an initial investment commitment of $150 million.
Rimi commended the proactive role of the Katsina State Investment Promotion Agency, noting that the investors were impressed with the level of preparation and presentations received. The delegate had visited areas in Jibia, Mashi, Daura, Mai’adua and Kaita local government areas. #Chinese Investors Plan $700m Agricultural Investment in Katsina#
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