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Delta projects receive huge financial boost

18 April 2016, 21:57

Abuja - A chinese company has earmarked over US$30 million (N5,97 billion) for infrastructural development in Delta State.

Officials from North China Construction Company disclosed the figures as the firm signed a memorandum of understanding (MoU) on infrastructural development with the state government.

Chairman of African Division at the company, Wu Guo Qi, said the partnership was in furtherance of China’s policy of encouraging its big companies to help in the infrastructural development in Nigeria.

He explained the partnership would totally transform the infrastructure of the state in order to accelerate the economic and social development of the state as well as wealth creation through employment and skill acquisition.

Also read: Channel loans to real sector, IMF advises Nigeria

Governor Ifeanyi Okowa said this was part of the government’s strategy to partner with credible investors for the development of the state.

“We welcome investors that show interest in the state and are ready to partner with us in infrastructural development. We will partner with companies with the requisite technical and financial capacity to deliver quality projects that will be beneficial to Deltans,” Okowa said.

The governor observed that in the present economic downturn, private partnership was needed to develop infrastructure.

“The state government cannot do it alone, so we welcome partnership that will yield good results and is beneficial to the people within the stipulated period of the contract,” he added. 





- CAJ News


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