The Delta State government, DSTG, is braced for infrastructure development after it sign a Memoranda of Understanding, MoU, with the North China Construction Company in the State Capital, Asaba, a deal which could potentially see over $30 million poured into the development of a new city around the banks of River Niger.
The MoU which was signed by Barr. Festus Agas, Secretary to the State Government and Olorogun David Edevbie, Commissioner For Finance on behalf of the state government and Mr. Wu Guo Qi on behalf of the Chinese Company, was witnessed by Governor Okowa and some members of the State Executive Council.
“We welcome investors that show interest in the state and are ready to partner with us in infrastructural development, we will partner with companies with the requisite technical and financial capacity to deliver quality projects that will be beneficial to Deltans,” the State governor, Ifeanyi Okowa said during the deal ceremony.
The governor observed that in the present economic downturn, private partnership was needed to develop infrastructure, stressing that “the state government cannot do it alone so we welcome partnership that will yield good results and is beneficial to the people within the stipulated period of the contract.”
Earlier, Mr. Qi, Chairman, [African Division] North China Construction Company, Limited said that the partnership was in furtherance of China’s policy of encouraging its big companies to help in the infrastructural development of Nigeria.
Qi stressed that “the MoU is aimed at long term strategic partnership with the state to develop key infrastructure and skill/technology acquisition including design, sand filling and provision of infrastructure in the new city on the banks of River Niger; design and construction of world class government offices; erosion control and construction of drains; urban renewal and upgrading of infrastructure including roads, water, schools, hospitals, renewable energy, waste to wealth”.
While disclosing that the company has earmarked over 30 million dollars for infrastructural development in Delta State, he explained that the partnership would totally transform the infrastructure of the state in order to accelerate the economic and social development of the state as well as wealth creation through employment and skill acquisition.
The North China Construction Company is part of a Chinese government owned company, The North China Construction Group Co. Limited, with a credit rating of triple A and is reputed for strong asset and financial base.
