Funding Partners To Deploy Multi-billion Dollars In FTZ Scheme

The Arise Integrated Industrial Platforms, AIIP, which is the promoter of a newly registered Industrial Platform Remo, IPR, Free Zone is set with its funding partners to deploy multi-billion dollars into the country’s free trade zone scheme.

The Managing Director of the Nigeria Export Processing Zones Authority, NEPZA, Dr Olufemi Ogunyemi made this known while presenting the Declaration Licence of the new zone to the representative of the promoter in Abuja.

He said NEPZA has through due diligence found that the promoter and the partners have the financial muscle to immediately inject multi-billion-dollars into the Nigeria economy through the free trade zone scheme.

“It is our hope, therefore, that the impact of this exploit will be positively felt by the citizens in no distant time as the promoter will ensure the placement of world-class enterprises across the country. We can only imagine the benefits these can bring to our people,’’ the NEPZA MD stated.

On his part, Mr Suren Abeywickrema, Vice President and Country Head of Arise Integrated Industrial Platforms, who received the licence, stated that three enterprises that specialises in Cotton/Garment production and processing as well as that of solid minerals would be sited in the northern region.

He explained that additional enterprises with different specialities would be located in the eastern region while two others would be sited in the western region.

Mr Abeywickrema added that the firm would kick-off its operations soon with the injection of 3.5 billion dollars into the economy with the commencement of construction work in proposed sites in the north.

Arise Integrated Industrial Platforms (mm, AIIP, was established through a joint venture between Equitane, formerly ATIF, and Africa Finance Corporation, AFC.

Other shareholders are NorFund, NorFinance, FMO, and RBO Partnerships as well as African Development Bank (ADB).

Arise currently has minority stakes in nine financial institutions based in eight countries.

Mathew Ayoola, Edited By Grace Namiji