Edo to benefit from $60b Chinas support
News & Trends •
osagie said the discussions were the last lap of talks to secure final investment decisions and commence full scale development of the benin river port project the benin industrial park and the modular refinery1 edo government is to clinch a chunk of the 60 billion proposed chinese governments financial support for the african continent1 he said obaseki is currently attending ongoing 2018 beijing summit of the forum on china-africa cooperation focac where he is formalising partnership with chinese investors on the states critical projects1 osagie quoted the chinese president xi jinping that in the next three years china would float eight major initiatives with african countries to realise a closer china-africa community of shared destiny1 the chinese president noted that the fields of interest for china included industry investment trade infrastructure health culture environmental protection and security1 obaseki with representatives of the federal government in beijing has engaged representatives of the chinese government and top officials of the china harbour engineering company chec limited1 mr crusoe osagie special adviser media and communication to governor godwin obaseki confirmed in a statement on monday1 the project is expected to open the state for foreign trade and boost local production leveraging the states strategic location to attract investment and grow manpower1 before leaving for china obaseki approved the release of n700 million for the benin refinery project which the state government is executing partnership with a chinese consortium1 with the initial investment capital approved experts conversant with the project say the state government is well placed to seal the deals for the projects so that development work can commence in earnest osagie said1 according to osagie the governors investment drive is to steer the state away from dependence on oil and set it on the path of prosperity anchored on a solid industrial base1 we are excited about the modular refinery project and are certain that with our chinese partners we will begin work on the project in no distant time1 the project is going to transform the states economy and position us as a hub for fabrication of refinery parts with the setting up of sips fabrication yard to groom local capacity in that sector1