South East to build railway, pipeline, power projects, others via PPP
The South East Region Economic Development Corporation (SEREDEC) is working on a public-private partnership (PPP) model that would enable the zone bridge its infrastructure gap, especially in the areas of healthcare, railway, power and pipeline projects.
Its chairman, Prof. Barth Nnaji, said the region would be hosting a summit to, among other things, attract investors into the South East.
Addressing newsmen in Abuja, the former Minister of Power noted that over 80 projects had been identified for development, adding that the group would only focus on bankable ones.He said SEREDEC was already sourcing for funds to develop the projects across the five states in the region.
Disclosing that the group was working directly with the governors in the area, Nnaji noted that the aim of the organisation was to leverage private sector initiatives to address the infrastructure shortfall in key areas in the region.
His words: “You need bankable plans. That means the people, who are developing the plans, must be credible. Because projects needed to be done, we have to find some other ways of doing them by attracting investors into the region. Investors only come if you have bankable plans.
“The South East (Region) Economic Development Corporation is a totally private sector-driven organisation set up by the people of the South East to work on a variety of projects that are (is) really more difficult for a state government to achieve. So, it is intended that this organisation supports the state governments in achieving such projects.”
The Enugu State-born renowned engineer disclosed that investors from the United Arab Emirates (UAE) had already indicated interest and would grace the summit, just as he added that the event would concentrate on ease of doing business.
He added: “We think it is a good model for development in the nation. And one of the things the organisation does on an annual basis is to organise a summit to look at economic activities within the region and what can be done to see that there is more vibrancy in its economic development.
“We will be looking at the ease of doing business in this year’s summit in order to attract investors into the country. We will look at infrastructure development ranging from rail to gas pipelines and healthcare.”SEREDEC’s Secretary, Onyi Nwagbara, said the projects were 100 per cent private sector-driven.