ALEX ATTRACTS N203B SOLAR INVESTMENT TO ABIA STATE

 

Abia State Governor, Alex Otti, has expressed delight over a proposed $145 million solar manufacturing plant in the state, describing the investment as a major boost to industrialisation, job creation and economic growth.

The project, being developed by MD Nwakanma Nigeria Limited in partnership with Chinese technical partners, is to be located at Umuelele in Isiala Ngwa South Local Government Area.

Receiving the investors, led by their team lead, Dr Oko Jaja, at the Government House in Umuahia on Thursday, Otti said he was pleased that the investors had reached the final investment decision for the project.

The governor said his administration remained committed to creating an enabling environment for businesses to thrive, adding that the state had ensured the required land was made available for the project.

He said, “I am glad that at least you have reached the final investment decision where you are investing up to $145 million. This is what we stand for – creating an enabling environment for businesses to grow and for people to invest.

“We have to do everything that was required to make the land available, and we would like to assure you that if there is any other thing that you need for this investment, do not hesitate to let us know.”

Otti said the state attaches importance to investments because of their potential to stimulate economic growth and create employment opportunities.

He said, “It is not just the investment; it is what goes with the investment – the jobs that it will create, the GDP that would rise, and the prosperity that it will also generate. So those are very important to us.

“So we don’t take investors lightly. We try to protect them and make life easier for them. So I want to encourage you to continue to do what you are doing, and if there is any way we can support, feel free to let us know.”

Earlier, Jaja said the delegation visited the governor to brief him on the progress made towards establishing the solar manufacturing plant.

He said the project, being executed in collaboration with the company’s Chinese technical partners, would attract an investment of about $145 million and commended the state government for providing a conducive environment for investors.

Jaja also disclosed that the first tranche of funding for the project would be released in September 2026.

Also speaking, the Chief Executive Officer of MD Nwakanma Nigeria Limited, Mr Dennis Nwakanma, said the company would establish the solar manufacturing plant through a Public-Private Partnership arrangement with the Abia State Government.

He explained that the visit by the Chinese technical partners to the proposed site formed part of the preliminary assessment ahead of the commencement of the project.

Nwakanma expressed optimism that the factory would begin operations by the end of September, describing the project as a significant milestone in advancing renewable energy production and industrial development in the state.

He added that, beyond producing solar panels and other solar accessories, the project would create employment opportunities for youths through skills acquisition and capacity development.