Dangote, Katsina sign N500m investment pacts

Dangote Katsina sign N500m investment pacts, The Group President/CE, Dangote Group, Aliko Dangote, has signed an agreement with Katsina State government for reviving and upgrading the moribund Songhai project in Dutsinma town, under a 10-year lease agreement.

The initiative, which will see an initial investment of half a billion naira by Dangote Group, will ensure the installation of the state-of-the-art tomato research and development (R&D) facility.

Dangote Katsina sign N500m investment pacts
Dangote Katsina sign N500m investment pacts

It will also be equipped with drip irrigation and fertigation systems and ultimately, the cultivation of 10,000 hectares of farmland and establishment of tomato processing plant within the Zobe dam region.

Speaking at the signing and handing over ceremony of the Songhai project, the renowned Africa industrialist, Alhaji Aliko Dangote, expressed his commitment towards supporting Katsina State government in reviving the Songhai project, putting its arable land to good use and creating employment for farmers in the region.

READ MORE: Dangote Group’s revenue exceeds $4.1bn in 2017; to invest $4.6bn in sugar, rice, others in 3 yrs

He said “Today is one of my happiest days to have finally concluded and signed this agreement so we can take action. I assure you, we will not only cultivate and process tomatoes, we will also help Katsina effectively utilize its vast arable land.”

Speaking, the state governor, Aminu Masari who described Katsina State as investor-friendly lauded the initiative as a significant milestone and a great turning point in the economic transformation of the state and its people. He further described the project as one that will not only serve the state but the West African region and beyond.

(Daily Trust)

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