By Tom Zaneni, Abuja
The Bauchi State Government has signed a Memorandum of Understanding (MoU) worth $1.5billion with Resident Cement Company Limited for the establishment of a cement production plant in the state.
The Commissioner for Natural Resources, Mohammed Maiwada Bello and the Attorney General and Commissioner for Justice, Hassan El-Yakub (SAN), signed the MoU for the state government, while the Group Chairman of Resident Cement Company, Abbas Junaidu Waziri, signed for the firm.
The cement plant will be sited in the Gwana district of Alkaleri Local Government Area and is expected to produce 10 million tonnes of cement annually and generate employment opportunities for unemployed youths as well as stimulate economic growth and development in the Northeast region.
Speaking shortly after the signing of the document in Bauchi Government House, the state Governor, Bala Mohammed assured the firm of his administration’s preparedness to provide an enabling environment for investments to thrive.
Governor Mohammed said the cement company would also construct a 100-megawatt electricity plant, a dam, and a truck parking space, among other social amenities, to support the project.
He said the partnership deal would benefit not only the company but also the host community and the state in general.
The governor said the deal would attract foreign investment and boost the state’s domestic revenue generation efforts and grow the economy.
He pledged to prevent any encumbrances that might hinder the smooth execution of the project.
He said, “Bauchi State is ready to partner with genuine investors to harness the abundant mineral and natural resources, and make our state financially independent.
“My administration will also partner with the Federal Government to remove all administrative bottlenecks for the smooth actualisation of this project.
“We therefore appeal to other investors to come to the state and invest. We assure them of security of their lives, property and investments.”
The chairman of Resident Cement Company Ltd, Abbas Junaid Waziri, lauded Governor Bala Mohammed for approving the partnership deal.
He expressed the firm’s commitment to the project, adding that the initiative would add value to the economy of the state and create job opportunities for young people.
