U.S. investors commit to full revitalisation of Nigercem
Investors from the United States (U.S.) have promised to revamp the premier Cement Company, NIGERCEM in Nkalagu, Ishielu Local Council Area of Ebonyi State.They gave the assurance while speaking with the core investor and Chief Executive officer of Ibeto Nigeria Limited, Cletus Ibeto and the Ebonyi State government.
The team, in collaboration with Ibeto Nigeria Limited had on Monday embarked on an assessment visit to the premises as part of the process of actualising the revitilisation.
Addressing stakeholders who thronged the company premises comprising National and State Assembly members, State Executive Council members, traditional rulers, opinion leaders, community leaders, and youth groups, Ibeto said the delegation was on an assessment tour of the company.He disclosed that prior to the visit, a team of Chinese Contractors had visited the state to finalise arrangements for the resuscitation of the cement factory.
He explained that the team will help to realise the Ibeto Group’s and the Ebonyi State government’s dream in refurbishing the company, adding: “Very soon production will commence in NIGERCEM with 6,000 metric tons of cement per day.”
Leader of the American investors, Mrs. Amanda Wester, said the team would do every thing possible to support Ibeto Nigeria Limited and the Ebonyi State government to ensure the revitalisation of the company.
Governor David Umahi commended the investors and Ibeto for their commitment in ensuring that the company commences production as soon as possible.“We extol Ibeto Nigeria Limited the core investor for their commitment to establish a new 6,000 tons per day dry process cement plant and a 45 megawatt capacity power plant in the first phase of the project,” he said.
The governor disclosed that the state government has enacted an Investors Protection Act that would ensure that government offers an Irrevocable Standing Payment Order (ISPO) and insulates investors from government’s interference even with change of administration.
“No doubt, the Ibeto brand is a household name in Nigeria and beyond. It epitomizes quality, which has been tested and trusted. It is also a brand that is synonymous with success in its endeavours,” he said.Chairman of Ishielu Council, Henry Eze, assured that the community would provide an enabling environment for exploration and other activities of the company.