Home News Anambra Signs Agreement to Build N43bn Ultra-Modern Market

Anambra Signs Agreement to Build N43bn Ultra-Modern Market



By Peter Okolie

Awka –   The Anambra Government has signed an agreement with two companies, to build an ultra-modern market costing N43 billion at Isiagu Community, near Awka.

The companies handling the project are JC Michaels Nigeria Ltd. and a Chinese firm, Centurion Oil Incorporated.

At a ceremony to sign the agreement on Wednesday in Awka, Gov. Willie Obiano said that the market would house 10, 000 shops.

He said that the market would also contain showrooms, warehouses, shoppers’ car park, police and fire service stations, food court, school, banks, clinic and toilets, among others.

Obiano said that the project, which would be funded by the Chinese firm, would be executed in three-phases within three years.

The governor said that his administration had so far attracted a total of 520 million dollars worth of investments to the state.

He said the aim of the project was to gradually disengage future administrations from total dependence on federal allocations to undertake their ventures.

Earlier, Igwe Cyril Enweze, the traditional ruler of Umuoji Community and Chairman of the state’s Investment Promotion and Protection Agency, told the companies to mobilise to site.

“The State Government has agreed to provide a special purpose vehicle for the project and the certificate of occupancy, if work commences on the site within the next six months.

“The first phase will be completed within the next 12 months or the land will revert to the state,” Enweze said.

Also speaking, Chief Jude Amuzia, the Managing Director and Chief Executive Officer of JC Michaels Nigeria Ltd., assured that the work would be completed on schedule.

A representative of the Chinese firm, Mr Felix Lee, said that Anambra had consistently shown traits of an emerging investment haven, prompting the interest of Centurion Oil Incorporated in the state. (NAN)

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