Enyimba economic city project begins Q1 2019, to create 625, 000 jobs
The Infrastructure Concession Regulatory Commission (ICRC) has disclosed that the proposed Enyimba Economic City is expected to attract long term and foreign investments, thereby integrating Nigerian businesses (manufacturing and services) into regional and global supply / value chains.
ICRC said the project, which is expected to commence quarter one, 2019, would sit on a 9,803 Hectares of land, spanning three Local Government Areas (LGAs).
The LGAs include Ukwa East, Ukwa West and Ugwunagbo.
The Commission explained that the land is at the center of the five South-East and four South-South states and has the right characteristics and ingredients to drive massive economic expansion of the region and by extension Nigeria.
The body noted that the positioning study indicates that Enyimba Economic City will at capacity, provide over 625,000 jobs, urban housing of over 300,000 units, urban population of more than 1.5 Million people. It is projected that the city will provide more than 2,000 industrial/ business units, with estimated annual value output of more than $5 billion.
The project has major arterial, intercity roads connections and it is near existing sea ports (Onne and Port Hacourt) and proposed Akwa Ibom Deep Sea Port. It has proximity to Airports (Owerri, Port Harcourt and Uyo).
It has functional gas pipelines and boarder Owaza gas fields. It transverses by existing National Rail line, Port Harcourt to Maiduguri.
ICRC further explained that the key pillars of Enyimba Economic City is to create a global business hub that connects the nine South East and South South states, build first class infrastructure in the location, including dedicated power and attract economic activities that are mainly driven by manufacturing and supported by other uses such as logistics, medical, entertainment, education, lifestyle residential, among others.
According to the Commission, the project is combining the clear focus of the private sector and the enabling powers of the governments at all level.
“Hence, it is a Private Public Partnership (PPP) of Crown Realties Plc, the Host Communities, Abia State Government and the Federal Government of Nigeria under project Made In Nigeria for Export (MINE) of Federal Government of Nigeria.
“On that basis, the Federal Government has designated Enyimba Economic City a Special Economic Zone (SEZ) with Free Trade Zone Status and one of the three pilots that include Kano and Lagos. It has also taken 20 per cent equity in the project.
The first phase of the project is fully designed and the projection is that construction will commence in Q1, 2019 and various major anchor tenant discussions are progressing well for manufacturing transfers from China, Germany and other Countries to the new city.”
ICRC explained that the positioning and master planning of the city was done by some of the bests in the business in the World, Surbana Jurong of Singapore and CBRE of India in collaboration with local firms.