Abia State Governor Alex Otti welcomes proposed $145 million solar manufacturing plant
via Punch Nigeria2 min read
Abia State Governor Alex Otti expressed satisfaction with a proposed $145 million solar manufacturing plant, viewing it as a significant boost for industrialization, job creation, and economic growth in the state. The project, a collaboration between MD Nwakanma Nigeria Limited and Chinese technical partners, is planned for Umuelele in Isiala Ngwa South Local Government Area. Governor Otti met with the investors, led by Dr. Oko Jaja, at the Government House in Umuahia, confirming that the final investment decision for the project has been reached. He emphasized his administration's commitment to fostering a favorable business environment and noted that the necessary land for the project has been secured. Dr. Jaja informed the governor about the project's progress, highlighting the $145 million investment and commending the state government's supportive environment. He also mentioned that the initial funding tranche is expected in September 2026. Mr. Dennis Nwakanma, CEO of MD Nwakanma Nigeria Limited, stated that the plant would be established through a Public-Private Partnership with the Abia State Government. He anticipates the factory will commence operations by the end of September, contributing to renewable energy production, industrial development, and youth employment through skills acquisition.
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This summary was AI-generated from a story originally published by Punch Nigeria.
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