The Abia State Government has partnered with private investors to establish a $145 million solar manufacturing plant in the state, as Governor Alex Otti welcomed the investment plan by MD Nwakanma Nigeria Limited and its Chinese technical partners.
The governor made this known on Thursday while receiving a delegation of the company, led by its team lead, Dr. Oko Jaja, at the Government House, Umuahia.
Otti said the state had created an enabling environment for businesses to thrive and assured the investors of continued government support to ensure the successful delivery of the project, which will be sited at Umuelele in Isiala Ngwa South Local Government Area.
“I am glad you have reached the final investment decision to commit about $145 million to this project.
“This is exactly what we stand for, creating an enabling environment for businesses to grow and for investors to succeed,” Otti said.
He noted that the investment would go beyond capital inflow by creating jobs, boosting the state’s Gross Domestic Product (GDP) and improving the prosperity of Abians.
“We don’t take investors lightly. We do everything possible to protect them and make business easier. If there is any other support you require, do not hesitate to let us know,” the governor added.
Earlier, the delegation’s team lead, Dr. Oko Jaja, said they visited the governor to brief him on the progress made towards establishing the solar manufacturing plant.
He disclosed that the project, being executed in partnership with Chinese technical partners, would attract about $145 million in investment, with the first tranche of funding expected in September 2026.
Jaja commended the Abia State Government for providing a conducive business environment that encouraged the investment.
Also speaking, the Chief Executive Officer of MD Nwakanma Nigeria Limited, Mr. Dennis Nwakanma, said the plant would be developed through a Public-Private Partnership (PPP) arrangement with the Abia State Government.
He explained that the visit by the Chinese technical partners formed part of the preliminary assessment of the proposed site ahead of the commencement of the project, expressing optimism that the factory would begin operations by the end of September.
According to Nwakanma, the facility will manufacture solar panels and other renewable energy components while creating employment opportunities for young people through skills acquisition and capacity development.
(The Whistler)
