Investors Commit $25m to Kogi Cassava City
By Sam Egwu The Cassava City in Osara, Kogi State, has received a boost following arrangements by Contec Global, Geron Oil & Gas and Jil Farms to invest about $25 million in the cassava farms. The Director of Contec Global, Dr Sashi Mozumder, who made this known at the Cassava City Day held at the Confluence Stadium, Lokoja, said his company, in partnership with Geron Oil & Gas, Praj India and the Nigeria National Petroleum Corporation (NNPC), will be producing 40,000 litres of bio-ethanol per day. He said, “The investment start-up on a turnkey basis is $25 million. The plant will employ over 2,500 people on a full time basis. “Contec consortium will provide inputs to farmers who will serve as out-growers for the scheme. They will also provide basic infrastructure such as rural roads, power and health centres.” The managing director, Geron Oil & Gas, Mr Haruna Madisca, and Mr Yakubu Danjuma, representing NNPC Renewable Energy Department, confirmed the commitment of ...