Economy

Akwa Ibom Partners Singapore Firm On $100m Rice Project

Published

8 years ago

August 26, 2016

The Akwa Ibom State Government has entered into an agreement with Ashdene Associates, a Singapore based investment organisation to set up a $100million rice farm in the state.

Speaking, yesterday, in his office in Uyo during the signing of Memorandum of Understanding, MoU, the state governor, Mr. Udom Emmanuel said that the rice project was part of his administration’s commitment to develop the agricultural sector and the economy of the state.

Emmanuel said that the rice farm and a rice mill will be both located in Ini local Government Area of the state.

Emmanuel explained that government decided to partner Ashdene Group because it is a competent company known to have successfully executed businesses in about 29 countries of the world.

“I commend the company’s decision to set up a rice farm alongside a processing mill at Ini Local Government Area. This will also attract road construction and other developments in communities.”

He assured the company that his government will ensure that they enjoy a peaceful working environment to enable the company grow.

“I want to assure you that this is an investor friendly government. Our policies, strategies and focus centres on investments. Be rest assured that the responsibilities of government in the agreement signed would be duly executed.”