Uzodimma, partners seals deal on Growth of Imo Oil & Gas Free Zone
Governor Hope Uzodimma has sealed development deals with four development partners on how to boost the economic profile of Imo State, open the South East to the outside world and create employment for the teeming youths.
Recall that Last week in Cairo, Governor Uzodimma was in Cairo, Egypt to meet with four development partners – Hassan Allam, Elsewedy Electric, Orascom and ADES – before rounding off the meetings with the President of Africa Export-Import (Afrexim) Bank, Prof. Benedict Oramah, where a $1.5 billion investment agreement deal was struck.
The meeting considered, among other things, the dredging of the Urashi River that will open the South East to the outside world with the consequent development of the industrial cluster at the Oil and Gas Free Trade Zone, the setting up of fertilizer plant and uninterrupted electricity supply chain plant using gas deposits in the area.
Just as Imo people are excited about the meetings, Governor Uzodimma himself is confident that the meeting has so far yielded an investment portfolio valued at 1.5 billion United States dollars and that after completion the projects will result to massive job creation, boosting of the economic profile of Imo State as well as align the South East economy with that of the global economy.
The Imo State government under Governor Uzodimma flagged off the dredging of the Urashi River to the Atlantic Ocean last year to boost the economic fortune of the State.
The project is dear to Governor Uzodimma as he believes it will bring industrial revolution to the South East region when completed.
Having also secured an Oil and Gas Free Zone status for Urashi, there was need for the Governor to woo investors, hence the investment meetings with Chief executive and directors of Afrexim bank and other willing development partners in Cairo, Egypt.
In his response, the Chairman of Council of Traditional Rulers, Orlu Zone, HRH, Eze Thomas Obiefule, said with the effort Governor Uzodimma is making today to develop Imo, ” the State will be like Lagos if not better than Lagos in years to come.”
Eze Obiefule added: “I am grateful for what is happening and Imo people are very happy and even more grateful to God for giving them Hope Uzodimma now. When Urashi River is fully dredged and operational, people who don’t have jobs will have jobs, economy will be boosted and Imo State cannot be the same again.”
