Jetty, Liberty Free Zone: AKSG, Foreign Firm Sign Agreement


The Akwa Ibom State Government, in its efforts to encourage industrialization and investments, with the sole aim of realizing its objectives of job and wealth creations, poverty eradication and infrastructural consolidation, has continued to partner both local and foreign investors/industrialists.
As part of the drive to industrialize Akwa Ibom and create business opportunities, the state government has reached an agreement with some private developers for the commencement of the funding, development and operation of Ikot Abasi Jetty/Storage/ Ancillary Services and Liberty Free Zone in Ikot Abasi LGA of Akwa Ibom State.
Mr. Gabriel Ukpeh, Chairman of Akwa Ibom State Government Committee on Foreign Direct Investments, who headed the government delegation, assured KO&G [Korea] and allied partners of their consortium that the state government would do everything possible to support the speedy completion of the projects.
The multi-billion dollar investment scope and objectives of the projects include a Strategic Co-operation to Finance and develop the Jetty/Storage/Ancillary Services as well as the Liberty Free Trade Zone project covering 15,000 Hectares in Ikot Abasi, Akwa Ibom State, to be jointly owned by Government and the investors.
Performing the signing ceremony on behalf of the State Government in his office, the Executive Chairman, Akwa Ibom Technical Committee on Foreign Direct Investment, Mr. Gabriel Ukpeh, expressed Government’s appreciation to the company for their readiness to provide the funds and develop the projects and for believing in the State.
Chairman Ukpeh expressed delight with the Group for having the interest of Akwa Ibom State at heart and assured them of Government’s readiness to work with them, as well as any other would-be-investor.
Signing on behalf of KO & G Consortium, the Chairman Mr. Kim Min-Soo expressed his Group’s joy in the partnership and that the consortium will manage and administer the projects in a commercially astute manner that will also be environmentally and socially responsible.
Mr Kim then commended the State Government for their foresight, describing the Jetty and Liberty Free Trade Zone Projects as significant economic investments for the people of the state.
Mr Kim commented on the professionalism, friendliness and courtesy shown to all consortium members by the state Government and locals that they met during their visits to Akwa Ibom and that they were so grateful and humbled to be invited to a wonderful private church service in Uyo with Governor Udom Emmanuel.
Other partners who attended the various project site visits in Akwa Ibom and Government meetings and MOU signing included, Grant Jenkins of Pyro Capital Group and on behalf of Double Tree Capital Bank Asia Pacific Division and hedge funds, Mr. Robert Umoette of CLSCMC Engineering Limited, Mr Seung-Ho Kim of Korea Port Engineering, Mr. Do-Hyeong Han on behalf of Daewoo Logistics, Mr. Yeong Sik Lee on behalf of joint venture Hyundai Engineering Corporation and Posco E&C, Mr Moses Atobrah on behalf of Oxygen Capital Group (All part of the Consortium) and their legal representative, Barr. Emmanuel Chukwuma and Suleiman Ibrahim on behalf of Price Waterhouse Coppers.
Those who signed the agreement on behalf of the state government included the Attorney General and Commissioner for Justice, Uwemedimo Nwoko, Commissioner for Women Affairs and Social Welfare, Dr. Glory Edet and Government witnesses were signed by Mr. Gabriel Ukpeh, Chairman of Akwa Ibom State Government Committee on Foreign Direct Investments as well as Barr. Hilary Ekpo, legal officer of the FDI Committee.



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