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VENTURES AFRICA – South African firm Industrial Development Holding is set to build an ethanol refinery plant in Edo State, Nigeria, Mxolesi Mbetse, Executive Chairman of the company says.
Mbetse in a courtesy visit Edo state Governor Adams Oshiomole said through the investment the company will eliminate the importation of palm oil and ensure that Nigeria becomes a “major exporter of not only palm oil and sugar, but of ethanol.”
Edo state is well-endowed with abundant agriculture and natural resources that could sustain industrialisation and industrial growth, not only in the state and the geo-political zone but the entire country, Mbeste said.
He also hinted on the state’s raw material potential and state of infrastructure which he said informed his company’s decision to consider building a refinery that will produce and process ethanol using palm-oil and sugar-cane.
Mbetse lauded the availability of raw materials and the state’s ready manpower. According to him, this factors will further enhance output and prospects of the state as an industrial base.
“The strategic importance of Edo gives me hope… it is the right place to put up this investment in terms of where you can produce what to be consumed.”
Speaking to the News Agency of Nigeria, governor Adams Oshiomhole said his administration intends to improve the GDP of the state, and that developing infrastructure is strategy to attract and sustain investment.
“We are clear on our responsibility is to encourage business that are pro-people,” Oshiomhole added.