Delta signs $40m deal to upgrade farm to processing park
Delta State Government, weekend, signed a $40 million shareholders agreement with Adventium Global Delta Consortium Limited, a subsidiary of Adventium Global Incorporation, USA, for the upgrade of agricultural activities at Songhai Delta Farm in Amukpe, Sapele Council of the state into Agro-Industrial Processing, Tourism and Training Park.
The injected money, under the Public Private Partnership (PPP) arrangement, would be raised in a joint venture between the state government and the consortium to achieve set goals
The Secretary to the State Government (SSG), Patrick Ukah, who signed on behalf of the state government, stated that the signing of the agreement between the government and the consortium was a testament to Governor Ifeanyi Okowa’s vision for creating jobs for the youths in the state and diversifying the state’s revenue base from over reliance on crude oil revenue.
The SSG commended members of the committee set up to drive the process as they were able to deliver on the set goals within the stipulated time.
He called on the management team of the consortium to ensure they keep to the terms of the shareholders agreement to achieve the goals of the PPP arrangement with the state government.
Earlier, the Chief Operating Officer of the firm, Mr. Simeon Asaboro, who spoke on behalf of the Group Managing Director and Chief Executive Officer of Adventium Global Delta Consortium Limited, Mr. Isaac Oghogho, said their investment in Songhai Delta was under a Public Private Partnership agreement where the consortium would inject US$40 million into the project, bring technical partners and manage the transformation of the farm.
He equally stated that the project would have socio-economic and developmental impact on the state such as creating jobs for the unemployed and under-employed youths and women in the state, ensure the development of communities across the state, where raw materials (crops and livestock) shall be produced and bred on a large-scale commercial basis to feed the processing plants at the Songhai Delta Farm.
According to him, the project will generate revenue for the state, promote the tourism potential in the state and project the investment opportunities in Delta State to the world.
Oghogho thanked the state government for giving the consortium the opportunity to partner with the state and assured that all the terms of the agreement would be met.