We’ll continue to attract investments into Delta, Nmah, DIDA boss assures 

By Sylvester Iloba,

The Chairman Delta State Investments Development Agency (DIDA), Hon. Paul Nmah has said the agency will continue to attract investments to boost the economy of the state and improve the living standard of Deltans.

The DIDA chairman gave the assurance when he, together with the Director-General of the agency, Chief Lucky Oghene-Omoru and some management staff visited the Kwale Industrial Park (KIP) in Kwale, Ndokwa West L.G.A. with an investor, Eastern Metal Ltd a foreign investment company.

According to him, the Kwale Industrial Park was one of the investments locations developed by Governor Ifeanyi Okowa to house foreign and domestic direct investments in Delta State.

“The Kwale Industrial Park is a multi-billion Naira investment project being promoted by the Delta State Government.

“The State has 25% equity Shareholding, while other private Shareholders are expected to have 75% equity.

“The KIP is expected to have anchor tenants that have investments in gas, energy and also manufacturing such as ceramics, glass, rubber, methanol, production of ferrous and non-ferrous metals such as nails, billets, wire rods in coils, pipes, lead, aluminium and copper etc,” Nmah said.

Mr Nmah noted that DIDA being the investment facilitation and promotion arm of government, was aggressively marketing the KIP to ensure that it became fully functional in line with the vision for establishing it.

Nmah said that it was in line with DIDA’s mandate that the agency had decided to visit the park with the Managing Director of Eastern Metals Ltd, Mr. Arun Goswani with a view to having his company invest in it.

He assured the investor that the state government would put all the necessary infrastructures in place to enable them to operate successfully.

The Director-General DIDA, Chief Lucky Oghene-Omoru on his part, further stressed that DIDA was the Investment promotion agency of Delta State Government and was presently marketing anchor investors to locate to Kwale Industrial Park (KIP)

He noted that DIDA’s marketing strategy involved targeting both foreign and local investors.

In his words “The visit to KIP with the Managing Director, Eastern Metal Ltd, Mr. Arun Goswani having existing Steel production facility at Issele-Azagba is part of the success story of the marketing efforts of DIDA to attract investors to the Industrial Park.

“EML is a successful Steel and Metal recycling industry which converts Metal and Motor vehicle scraps etc. to produce various assortments of steel products comprising angles, rods, wires, nails, copper and led. The Company is interested in establishing a factory to manufacture other steel products at KIP as part of its veritable integration efforts.”

“The KIP offers numerous incentives to prospective investors some of which are:  

“Existence of abundant natural gas in the location is relatively cheaper and clean energy which can bring the cost of production in the site down by as much as 25%

“Existence of a natural gas processing facility to supply gas to anchor investors in addition to providing electricity to investors in the location,” the director-general said.

According to him other incentives include enjoying export processing zone status adding that plans were underway to make KIP an export processing zone.

Closeness to the market centres in the eastern region, Warri Port and Asaba International Airport, he noted, was also an advantage.

The Managing Director, Eastern Metals Ltd, Mr. Arun Goswani, while speaking earlier on his impression about the visit to the Kwale Industrial Park, said that it is located in a good area with the advantage of the availability of gas.

He noted, however, that the State Government needs to develop the basic infrastructures that are required for the Industrial Park to effectively function.

Mr. Goswani further stressed that in order to make the Park successful, the State Government need needs to attract investors that would not only bring in their capital and investment but also attract smaller investors that would act as auxiliary investors.

He said that he was impressed that the State Government had been able to acquire a huge expanse of land of about 1,000 hectares in such a good location.

According to him if everything falls into place, his Company intends to set up a Vertical Integration Industry where they will be producing nails, nuts, screws and bolts for export adding that they have a similar Industry already operational in India.

He stated further that they intend to set up a Rolling Mill in the KIP which will produce angles, flat bars etc.

Mr. Goswani scored His Excellency Sen. Dr Ifeanyi Okowa high in his effort at attracting investors to the State.

“His Excellency’s intentions and the actual performance are quite visible but he needs to do more for the investors, before a child can start walking, an elder need to hold his hands to allow him to walk; and that is actually the job of the State Government. Investments will come but that hand-holding effort is required from the Government like the provision of security, security of investments and some funding so that people know that their investments have Government support” Mr. Goswani said.

He said that they are already supporting the State Government in the area of job creation through their already existing Eastern Metal Ltd at Issele Azagba in Delta State stressing that their efforts have helped to create wealth and alleviate youth restiveness.

Mr. Goswani thanked the management of DIDA for its proactive and aggressive promotion of investment opportunities in Delta State in line with Governor Okowa’s investment mandate.