TORQ Agro Nigeria Limited and Al-HikmaFertiliser and Chemicals Nigeria Limited have redeemed the pledge to invest N52 billion in Katsina State’s agricultural sector, including agro-industry value chains, large-scale poultry farming, as well as soybeans processing and oil refinery.

The two investors had made separate pledges during the Katsina State Economic Investment Summit November last year. During the summit, which lasted three days, dozens of foreign and local investors pledged to invest in various sectors, with the state securing pledges worth over N489.4 billion.

Speaking, the Director-General, Katsina Investment Promotion Agency (KIPA), Ibrahim Jikamshi, said the two companies have redeemed their pledges, with TORQ Agro Nigeria Limited already on site in the state.

Jikamshi said modalities have been put in place for Al-Hikma Limited to also commence construction of its company, which is expected to begin this year.

It was learnt that TORQ Agro is investing more than $33.5 million, or over N45 billion in large-scale poultry production, oilseed processing, agro-industry value chains, soybeans processing and oil refinery.

On the other hand, Al-Hikma limited is investing $3.5 million or about N5 billion, in agro-allied processing factory, both of which are to be located in Batagarawa Local Council.

He explained that Al-Hikma is investing an initial N1 billion in fertiliser and agro-chemical production, supply, and seed multiplication at the project site, with plans to scale up the investment to N5 billion in subsequent years.

He said the investment is expected to improve input availability, boost agricultural productivity and deepen value-chain development across the state.

The DG also said the state government had through an Executive Order, adopted the Framework for Responsible Inclusive Land Intensive Agricultural Investment (FRILIA), and that both government and investors are expected to abide by the framework.