Delta Governor, Senator (Dr) Ifeanyi Okowa, on Tuesday said activities would begin soon at Kwale tract as methanol and transmission tower manufacturing companies had indicated readiness to line up their plants within the state.
The governor disclosed the South-South Export Enlightenment and Engagement Forum organized by the Nigeria Export-Import Bank (NEXIM Bank) in conjunction with Delta Government in Asaba.
He said "Our investment drives have started paying off; our state has commenced the method of a take-off of the Kwale tract located along Ughelli-Asaba Expressway.
"Expected to drive this administration’s industrialization agenda, the Park has the potential to be Nigeria’s biggest location for gas and energy-intensive manufacturing like ceramics, rubber, and methanol.
``I can confidently say that we engaged during a successful show at China which can cause the establishment of a methanol factory at the park within the next few months; pulp and paper also will be manufactured at the Park.
"As an indication of our faith within the viability of the project and as an incentive to prospective investors, my administration approved a seed fund of 10 million dollars for partnership with interested investors within the Park.
``In the same token, we've earmarked the sum of 5 million dollars as seed capital for the establishment of a transmission tower factory being promoted by ENFRASCO Limited.
"The project, which can be sited at Issele-Uku, comprises the establishment of a state-of-the-art factory for power transmission, telecommunication masts, hot-dip galvanizing plant, tower testing and certification facility and research center training school with specializing in fabrication and distribution know-how.
``This kind of commitment on the part of the government serves to de-risk investments and assures prospective investors."
Okowa involved diversification of the nation’s economy from oil and gas, saying "evidently, this distorted mono-product economy doesn't bode well for inclusive economic growth and sustainable development as oil may be a depleting resource.
``Even more importantly, the advent of electric cars may be a clear and present danger to the future of this industry, hence, the urgent need for the governments within the Niger Delta region to expeditiously diversify their economies and maximize our non-oil export potential.
"To achieve this, it's exigent that we first take full advantage of our unique location. In business, it's axiomatic that being within the right location is critical for success.
``Our natural location within the coastal region puts us during a prime position to engage in export-import
trade; take Delta, as an example, it's four seaports in Warri, Burutu, Sapele and Koko, whose combined capacity exceeds that of all the other ports in Nigeria put together.
"You can, therefore, imagine the quantum of trade and commerce also as the limitless possibilities that exist for investment and employment opportunities when just two of the ports are fully functional."
Welcoming participants earlier, director of NEXIM Bank, Mr. Abubakar Bello, had stated that efforts should be geared towards encouraging non-oil export.
He announced that N1 billion had been put aside for entrepreneurs that produced non-oil export products for every state of the country.
Edo Governor, Mr. Godwin Obaseki, Speaker of the Delta State House of Assembly, Rt Hon Sheriff Oborevwori and host of others attended the opening of the Forum.
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