The Governor of Delta
State Ifeanyi Okowa has assured investors of his administration’s commitment to
the provision of an enabling environment for infrastructural development.
Speaking when he received on courtesy visit, members of the
Delta Commercial City Project Committee and its Development Partners led by
Chief Clement Ofuani, Director-General, Asaba Capital Territory Development
Agency in Asaba, Governor Okowa stated that the state would
partner with genuine investors interested in the development of the state.
“My administration will provide the needed environment and see
to the progress and development of the projects for the benefit of Deltans. We
are committed to the development of the Delta Commercial City as it would
provide employment to the people and bring development to the state”. He
assured.
He added that the robust partnership between the state and the
Development Partners would help the quick completion of the project.
While commending the Committee for its commitment and sincerity
in the development of the project especially in the ‘Open Industrial Day’
session, Senator Okowa urged them to continue to drive the developmental
process in the spirit of the partnership so as to see the project to fruition
stressing that “I am impressed with the rigorous process of sifting out those
interested in the development of this project, the partnership with the
Development Partners not only shows their interest in the gains of the project
but in the development of the state.”
Earlier, Chief Ofuani said that they were in Government House,
Asaba to brief Governor Okowa on the progress made so far on the development of
the Delta Commercial City project, a critical component of the urban
transformation of the state government SMART Agenda.
He said that the project was a public private partnership
initative with Sergio D’Arcano SRL and ALHUDA Nigeria Limited as Development
Partners stating that a Special Purpose Vehicle [SPV] would be set up to drive
the project to fruition.
He explained that Development Partners, D’Arcano SRL and ALHUDA
Nig Ltd would have 38percent and 32 percent respectively of the share capital
while the state government would have 30 percent stressing that the Development
Partners would provide 19 million and 16 million Dollars respectively of the
initial capital, and the state government would provide 15 million dollars
which would be taken from the value of its 266 hectares of land provided for
the project.
While commending the spirit of compromise shown by the
Development Partners, he said that work would start on the project soon and
hopefully at the end of the year, substantial progress would have made
especially on the masterplan and preliminary work.
Mr. Moise Nassogui of D’Arcano Group and Olawole Rhodes-Vivour,
Al HUDA Nig. Limited on their part, said that the Delta Commercial City would on
completion have residential and commercial areas including shopping malls,
beach resorts and hotels with a renewable energy mix to power it stressing that
the partnership with the State government would be a beneficial one to the
people of the State.
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