The Kwara Government says it has secured a $56million investment from China for the establishment of a textile industrial park in the state.

Dr Muideen Akorede , the Senior Special
Assistant, Media and Communication to the
Governor, said this on Sunday, June 12, in a
statement made available to the News Agency of
Nigeria (NAN) in Ilorin.
The statement said Governor Abdulfatah Ahmed
concluded the investment deal during his current
investment trip to East China.
It also said the agreement for the establishment
of Kwara Chitex Industrial Park was signed by
Ahmed and Mr Shi Zengchao , the Managing
Director of Ningbo Jinsheng Star Import and
Export Co Ltd.
The statement said the event took place at the
18th China Zheijand Investment and Trade
Symposium held in Ningbo, East China.
It said the initiative involved $3.7 billion worth of
investments in 31 projects out of which
$1.4billion was for outbound investments.
Kwara Chitex Industrial Park, it said, was the
only one Nigeria- bound.
The statement quoted the governor as
expressing delight over the multimillion dollar
project which was expected to commence soon.
The park, according to the governor, would
create 3,000 jobs for the people of the state.
“We are looking for investors, especially in the
area of manufacturing.
"We have a very youthful population which
shows there is a strong workforce that can
support industrialisation.
“There are opportunities in textiles, agriculture,
mining and other areas, the potentials are huge,’’
the statement quoted Ahmed as saying.
It also quoted Ahmed’s Chief Economic
Assistant, Mr Abayomi Ogunsola , as saying
government would provide about N1billion in
counterpart funding and 400 hectares of land as
well as infrastructure support.
The statement also said the governor held
preliminary talks with potential investors in
agribusiness and agro allied industries during the
visit to China.
Ahmed, it said, offered prospective investors
incentives such as tax relief and accelerated land
acquisition process.

Source;
Pulse NG