News in Brief:
– A $50 million soya bean oil refinery is being built in Kaduna state, Nigeria, creating thousands of jobs and boosting the local economy.
– The project is expected to benefit farmers through increased income potential and introduce technology transfer for sustainable practices.
Kaduna state governor Uba Sani, recently presided over the groundbreaking ceremony for a new $50 million soya bean oil refining plant in the state.
The project, undertaken by Sunagrow International Oil Ltd, is located in Kutungare, Igabi Local Government Area, will have a daily production capacity of 500,000 litres of soya bean oil upon completion.
Governor Sani highlighted the project’s potential to create thousands of jobs across the agricultural and refining sectors, ranging from farm labour to skilled engineering positions.
I was delighted to perform the groundbreaking for the construction of the $50 Million Soya Bean Oil Refining Plant by Sunagrow International Oil Ltd at Kutungare, Igabi LG of Kaduna State.
When completed, the $50m Soya Bean Oil Refining Plant will have a production capacity of… pic.twitter.com/lq6MRkbnLe
— Senator Uba Sani (@ubasanius) May 14, 2024
Also, he expressed his enthusiasm for the foreign direct investment (FDI) brought in by Sunagrow as well as the technology transfer and expertise development opportunities it presents. The project is expected to create a ripple effect in the local economy creating opportunities for businesses to supply raw materials and services to the refinery are hoped for.
Sustainability and community development
Furthermore, Governor Sani urged Sunagrow to prioritise environmentally friendly oil extraction methods and to contribute to the local community through social development initiatives like education, healthcare, and social welfare programs.
Also, he seized the opportunity to spotlight attractive incentives offered by Kaduna State to investors across various sectors of the state’s economy.
Meanwhile, Managing Director of Sunagrow International Oil Limited, Ritesh Argawal, acknowledged Governor Sani’s vision for economic development as a key factor in the company’s decision to invest in Kaduna.
He pledged Sunagrow’s commitment to upholding the highest standards and delivering on its promises.
In the end, both parties expressed confidence in the project’s success and its potential to serve as a model for future partnerships between the company and the Kaduna State government.
