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Ebonyi Govt to enact law for protection of US investors



EBONYI State Governor, David Umahi has pledged to enact laws that will protect  Ibeto Group of Companies and the visiting American investors, investment in the state.and also assured the investors that the state law, Irrevocable Standing Payment Order, (ISPO) will continue to protect them at the local and state level.


Umahi made this known at NIGERCEM, Nkalagu when the  team of Core Investors of Ibeto Group Ltd NIGERCEM factory led by Amanda Wester paid a  visit at industrial in the state.


He stated that the revitalisation of NIGERCEM Company, Nkalagu in Ishielu local government area of Ebonyi state would serve as a catalyst for the vast development of the State. assuring the investors of the cooperation of the locals adding that the revitalisation of the company would not only benefit the State but the entire country.


“We are at home with America and any support you need to make the project a success would be given to you by the present administration.


“I am so excited today. We are happy to have the technical partners here. We are at home with America as our partners. I want to assure the Nalagu people that the promise we made to you is being fulfilled.


“I want to assure you of the cooperation of the locals. I’m building the seven bridges and roads leading to Nkalagu have been worked on. We have a law that protects investors. Nigercem will be a catalyst for vast development of the state. We will continue to support Ibeto so that the project will succeed”, he said


Responding, the Chairman of Ibeto Group, Chief Cletus Ibeto commended Governor David Umahi for his tremendous support towards the revitalization of NIGERCEM adding that a new cement plant would be commissioned at Nkalagu Cement Company.


“The first phase of the new project is a 6,000 tonnes per day (TPD) dry process cement plant and 45 megawatt (mw) capacity power plant, which would be established in the premises of Nigercem factory located at Nkalagu.”


Earlier in her speech, the leader of the core financier of the proposed project (Dream Team), Ms Amanda Wester, assured of their readiness to ensure that the project was actualised within record time.


She said that already her team and Ibeto Cement Company have reached a deal on the best way to embark on the project even as she disclosed that modalities have been put in place to that effect.

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