Sambo Lays Foundation For $1 Billion Manufacturing Plant In Calabar

CALABAR – Nigeria’s desire to become one of the world’s twenty largest economies by the year 2020, is gradually becoming a reality with the choice of a private company, General Electric to establish a $1 billion manufacturing and training facility at the free trade zone, in Calabar, the Cross River State Capital.

The company’s mandate is to encourage the creation of local employment, eliminating imports, thereby leading to a robust Nigerian Economy.

This was disclosed by the company’s President and CEO, GE Nigeria, Lazarus Angbazo at the foundation laying, ceremony which was laid by the representative of the president of Nigeria, Vice President, Nmadi Sambo, at the construction site in Calabar.

Sambo Lays Foundation For $1 Billion Manufacturing Plant In CalabarGeneral Electric (GE’s) is a multi billion private company whose operations in Nigeria span more than four decades, with over one hundred thousand customers in both the public and private sectors.

Their portfolio of technology solutions is well aligned with Nigeria’s infrastructure needs, and is poised towards revitalizing the nation’s electricity, healthcare, rail transportation, water treatment and the aviation sectors.

The ceremony, according to Stakeholders in the GE, will further strengthen the improved confidence of Nigeria to boosting local and global business where other African Countries would be served.

For the GE and Nigeria, this milestone will go beyond buildings, as the company will recruit and train all their staff who will be mostly Nigerians on Engineering, Vocational crafts and management, comprehensive training programmes, technology among others for a period of six months to one year in Calabar for effective delivery.

Vice president, Nmadi Sambo, while laying the foundation, said the operations of GE in Calabar would not only give a boost to the Administrations Transformation Agenda, but would also further strengthen the administration’s policies to job creation and wealth generation.

Vice President Sambo noted that the groundbreaking ceremony would not only boost the administration’s transformation agenda, it would also further strengthen the confidence in the Nigerian business environment by both local and foreign investors.

He said it also confirmed the commitment of the federal government to revitalizing the Nigerian economy within the lifetime of the current administration through policies and projects that would pave the way for increased production activities, job creation and wealth generation. In his remark, Aganga stated that the groundbreaking further demonstrated that the current administration was not just interested in investment commitments, but in monitoring the processes to the execution stage.

He noted that GE had, over the past 125 years, swiftly evolved to seize new opportunities created by changes in technology and the economy as a front line multi-business organisation.

“It is therefore not surprising that the company has moved smartly to explore the favourable investment opportunities that abound in Nigeria. Today, the company is building new platforms in industries and markets with GDP growth that provide opportunities to apply acquired technology and management expertise to accelerate development and growth in both developed and emerging economies.

“The decision made in recognising the potential of Nigeria becoming your base, where other African countries would be served, will give a greater opportunity to demonstrate your innovation capabilities and home grown solutions to other African countries’ problems,” he added.

For the Minister of State, Trade and Investment, Dr. Samuel Ortom the occasion is a materialization of a dream conceived between the federal government and GE on the 31st of January this year, when both parties sealed an investment deal of $I billion dollars (N158 billion) on the establishment of a best-in-class assembly in Calabar.

He added that “it is a demonstration that, the current administration was not just interested in investment commitments, but monitoring the processes to the execution stage”.

Governor Liyel Imoke in his speech noted that diversifying the nation’s economy from oil and gas and providing an enabling environment for private sector to thrive, is a sure way to boosting the nation’s economy.

The grand patriarch of the Efik Kingdom, His Eminence, Edidem Okon Abasi Otu IV assured the private investors to the state of total peace, and tranquility in the discharge of their duties, from the construction stage to the manufacturing.

When fully operational, GE promises its customers quality products from a complaint business environment.

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