Enugu to revive moribund flour mill 39 years after

•Signs over N24b deal

Enugu State government has initiated moves to revitalise the multi-million naira Sunrise Flour Mills Industry 39 years after it was abandoned. The industry went moribund in 1985, exactly two years after it commenced operations in 1983 at the Emene Industrial layout.

But in a move to return activities at the facility, the state government and Jelfah Nigeria Ltd, yesterday, signed an N40 billion deal for the revitalisation of the moribund firm.

The deal, which was signed at the Government House, Enugu, saw Jelfah acquire a 60 per cent equity stake in Sunrise Flour Mills and is expected to invest N24 billion in the iconic mills, while the state government keeps 40 per cent based on the existing assets of the company.

Speaking at the brief signing ceremony and public announcement of the transaction, Governor Peter Mbah stated that the milestone, coming on the heels of the N100 billion deal to resuscitate the hitherto dying Enugu United Palm Products Limited (UPPL), was a clear demonstration of his administration’s determination to grow the state’s economy from $4.4 billion to $30 billion through private sector investment.

“Just a few months ago, we secured an investment size of N100 billion with a company known as Pragmatic Palms Limited, and today we have just witnessed Enugu State, again, securing another investment size of N40 billion.

“This investment will see Jelfah Group investing N24 billion into the existing Enugu Sunrise Flour Mills. N22 billion will be directed into revamping the Sunrise Flower Mill, and N2 billion will come to the State by way of cash.