At least, one hundred million dollars will soon be injected into the Cross River State economy, Mr Rahul Mehndiratta, a representative of Avaada Concept, has said.
He explained that a consortium of Indian firms under the auspices of Associated Chambers of Commerce, Industries, Agriculture and Mines (ASSOCHAM) have voted this much to express their interest.
Speaking to reporters in Calabar during their visit, he said: “We are bringing in about one hundred million United States dollars to invest in Cross River to build and evacuate two set of solar plants that will provide each local government headquarters in the state with 100 megawatt electricity to support the industrialization initiative of the state.
According to Mehndiratta, “Because of the critical role power plays in any economy, we are here to complement the effort of the state government in promoting industrialization by leveraging on the abundant resources to supply solar powered electricity to the state.”
Another investor who represents the Simba Group, manufacturers of tricycles, Ravi Kumar, disclosed the decision of his firm to put up a training school in the state on repairs of tricycles.
“We are putting up a training school in Calabar to train mechanics and drivers on how to drive their tricycles safely with the view to reducing the rate of accident.
“For the first phase, we are training and also empowering after training, 200 artisans that will be selected across the 18 local government areas with plans to expand for more people as we go on.”
Also speaking, Engr. Nitin Mahajan Managing Director and Chief Executive Officer, T & D Technologies (Nig) Limited, explained: “We are bringing in the technology for a large scale mechanized farming in the state to check food insecurity with 100 percent buy back from India and to put in place effective distribution network in the state that will grow agro business in the for wealth creation.”
Receiving them, Governor Ben Ayade stated that “The good thing with their investment is that they are not coming as a people who are looking for purchase but they are here with a concept to invest, bringing in Indian equity to invest and reap in the process.”