November 18, 2017

Kwara’s N70bn rice project starts December 2012

Kwara’s N70bn rice project starts

THE Kwara Government said its N70 billion joint venture rice cultivation and processing project with Vasolar S.L 2006 of Spain will commence by December 2012.

The Chief Press Secretary to Governor, Alhaji AbdulWahab Oba, stated this on Sunday in Ilorin in an interview with the News Agency of Nigeria.

He said the project had an initial life span of four years.

Oba explained that a letter received by government last week from Vasolar S.L. 2006, stated that the company had secured fund to execute the project.

Kwara’s N70bn rice project starts December 2012

Kwara’s N70bn rice project starts December 2012

“Following its board’s earlier approval of the project, it (the company) is ready to commence operations within the next 90 days.

“Consequently the desire of the Kwara State Government to establish herself as a hub for agriculture in the West African sub-region has finally materialised.’’

Also, the Senior Special Assistant to the Governor on Investment, Policy and Strategy, Abayomi Ogunsola, said that under the terms of the joint venture,  the company would  invest N70 billion in the project in the next four years.

He explained that the state government would provide 20,000 hectares as well as infrastructure support for the project.

Ogunsola said that it would operate under a registered joint venture company, Vasolar-Kwara Limited.

According to Ogunsola, each annual module of the project will see the company cultivating 5,000 hectares, producing 40,000 tonnes of rice for local and international consumption.

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