Tyre Dealers Commence N1.5b Cluster Park in Aba

  • Tyre Dealers Commence N1.5b Cluster Park in Aba

Construction of a 1,200 shop capacity cluster worth N1.5 billion has been set in motion at Aba, the commercial hub of Abia State by the Aba Heavy Motor Parts and Tyre Sellers Association (AHMPATSA), with the formal signing of the construction agreement between it and the contractor, Logistics De-Luke Ltd.

The Chairman, Board of Trustees (BOT), Chief Philip Ezekwem, signed for AHMPATSA in the presence of his deputy, Chief Charles Onyejegbu, while the Chairman, Aba Tyre Sellers Association Mr Nayo Okeke, the Chairman/Chief Executive Officer Chief Raymond Aliga, signed for the contractor, Logistics De-Luke.

The Agreement signing, which was done on Monday at the AHMPATSA head office, Aba, was also witnessed by Jude Udeachara, a Senior Special Assistant to the Governor Okezie Ikpeazu, on Trade and Investmen. Others included representatives of Unity Bank, Donatus Ubechu, and Kenneth Ogbonna, and a host of others.

Speaking on the project, Ezekwem said the signing of the agreement marked the end of their quest since 1994, to acquire land to build a cluster of their own.

He said: “Our problem is now over, work will begin immediately on the site located at Alaoji, Aba; we shall fulfil our own part of the agreement towards actualising this project in nine months’ time.”

Describing the project as laudable, Aliga on his part, noted that AHMPATSA is the only association in the south east zone to acquire its own land, secure its Certificate of Occupancy, did the design and commenced development, and beckoned on other groups to emulate them.

Aliga pledged that the project/Market, which has provision for Motor Park, banks and other modern business related facilities would be completed by Logistics De-Luke within the nine month time frame. He invited members to come and witness the commencement of construction and movement of land clearing equipment into the site on yesterday.

The Governor’s representative, Udeachara commended the determination of the association to execute the project, which would in turn, decongest the Aba city and rid it of street trading.

He pledged the government’s commitment to build a one kilometre road into the market, to start with beginning of construction work and the provision of a giant electricity generator with the capacity to provide steady power to the Park. He also promised that the governor will perform the formal ground breaking of the site.

Representative of Unity Bank, Ubechu said his bank identified with the project, noting that AHMPATSA has a knack for going into and completing projects on schedule.

He however noted that the bank would expect the association to deposit 10 per cent of the total cost of the project to qualify for the bank’s assistance.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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