- Bauchi, American Firm Sign $864m Cement Deal
The Governor of Bauchi State, Senator Bala Mohammed, announced that the state has signed a $864 million cement deal with an American Investment company to produce cement at the Gwana Cement Factory.
The governor disclosed this on Friday during the opening ceremony of a three-day Special Retreat for the FCT Minister’s Press Corps in Bauchi.
The governor, who was represented by Abubakar Kari, the Chief of Staff, Bauchi State, said the Constant Return to Scale of the investment was valued at N2 billion.
In the area of infrastructure, the government signed a Memorandum of Understanding for the execution of Kujuru Solar Power Project at $100 million, with the Kuwait government for investment of up to $200million, in addition to an agreement with Family Homes Funds for the provision of 2,500 housing units to be distributed across the state at the total cost of N15 Billion.
“In order to give more dividend of democracy to the good people of Bauchi State, government has awarded contracts for the construction of 92.6 kilometers roads across the State at the cost of N17.3 billion.
“About 50 per cent down payment has been paid and the completion period is between one year and a maximum of three years,” he said.
He added that the state has made provision for 3,085 youths to be trained on contract spray across the 323 wards of the state, while more than 1,000 youths had completed non-graduate component skills acquisition.
“Our major achievements in the Agricultural Sector was Fertilizer and Agro-the purchase of N600 million and the chemical worth launching of Agricultural Policy of the State, which will take Bauchi State farmers to the promised land”.
