AGREEMENT WITH CCECC AS EPC CONTRACTORS FOR THE CONSTRUCTION OF INNER-CITY ROADS

Towards ensuring the timeline for the commencement of construction in the first quarter of 2019 in Enyimba Economic City is maintained, the management of Enyimba Economic City Development Company Ltd (EECD) on Friday, September 28, 2018 signed an agreement with CCECC as one of the EPC Contractors for the development of the Spine Roads within the Enyimba Economic City.

The first phase of the engagement is the construction of a 12.5 km Spine Road within the first phase of the Enyimba Economic City, this is a 6-lane road with a 3-meter median carrying service ducts, drainage pipelines, waste pipelines, power, communication, telecommunication and surveillance e.t.c.

CCECC Nigeria Limited provides construction and engineering services in Nigeria, it is a whole subsidiary of China Civil Engineering Construction Corporation established in 1979.CCECC has been listed among the world’s top 255 international contractors for many years and ranked consecutively among the first 70 in recent years by the Engineering News Record “ENR”. 

At the signing event were Mr Alex Wang who signed on behalf of CCECC and Mr C Darl Uzu, the Managing Director of EECD who signed for EECD.

FEDERAL EXECUTIVE COUNCIL APPROVES FREE ZONE LICENSE FOR ENYIMBA ECONOMIC CITY

The Federal Executive Council on September 12, 2018 approved the status of Enyimba Economic City as a Free Trade Zone.

Enyimba Economic City is also a Special Economic Zone (SEZ) under the Made in Nigeria for Export (MINE) programme of Federal Government of Nigeria. It is being developed through a Public-Private Partnership (PPP) of a successful entrepreneurial company represented by Crown Realties Plc, Abia State Government and Federal Government of Nigeria, with private sector providing leadership.

With the declaration of September 12, 2018, an investment within the city will automatically benefit from complete holiday from all federal, state and local government taxes, rates, and levies, duty free importation of capital goods, machinery/components, spare parts, raw materials and consumable items in the zones.

Others include 100% foreign ownership of investments, 100% repatriation of capital, profits and dividends, waiver of all imports and export licenses, waiver on all expatriate quotas for companies operating in the zones, 100% capital allowance in any year of assessment.

Furthermore, benefits such as up to 100% on export into the Nigerian customs territory of product produced, assembled or packaged within the Zones; Tax exemption on proceeds re-invested, tax exemption on gain arising from take-overs, absorption or merger, double taxation relief, tax exemptions on interest on bonds and short-term securities, and proceeds of the disposal of Government and corporate securities.

These benefits are in addition to those of Abia State Government which exempts any territory recognized as a Special Economic Zone in the State from all revenue drivers by State Ministries, Departments, Agencies and or Local Government or Agents.

With the above and various other attributes, Enyimba Economic City will soon become the most preferred investment destination in Nigeria for a long time.

VISIT OF ENYIMBA ECONOMIC CITY TEAM TO GERMANY

germany-visit

From left to right C Darl Uzu, Managing Director EEC, Dirk Hilbert, Mayor of Dresden, His Excellency Ambassador Yusuf Maitama Tuggar, Nigerian Ambassador to Germany, Abubakar Jidda, Minister for Economy and Commerce of Nigerian Embassy in Berlin

germany-visit

From left to right Dirk Hilbert, Major of Dresden, His Excellency Ambassador Yusuf Maitama Tuggar, Nigerian Ambassador to Germany, C Darl Uzu, Managing Director EEC, Barr Chibuzor Ekwekwuo, Company Secretary EEC

The preparatory visit of Enyimba Economic City Team to Germany to prospect for investors in manufacturing transfer included Trade Mission to Hamburg and visit to Mayor of Dresden.

His Excellency Ambassador Yusuf Maitama Tuggar introduced Enyimba Economic City (EEC) and the team to the Major of Dresden and solicited for an investment summit with German businesses at a later date from the Mayor.

FOCAC SUBMIT: CHINESE GROUP TO INVEST 2B USD IN NIGERIA

 

Chinese based Shandong Ruyi Technology Group is set to invest about $2,000,000,000 in Nigeria. This was the outcome of the meeting between President Muhammadu Buhari and the Executives of the Company, on the sidelines of the 7th Forum for China and African Cooperation in Beijing.

President Buhari alongside the Minister of Industries, Trade & Investments Dr. Okechukwu Enelamah and Minister of Foreign Affairs Mr Geoffrey Onyema met with Mr Yafu Qui, Chairman, Ruyi Group, Ms Aiying Li, President Ruyi Power Group and Mr Liming Sin, President Ruyi Textile Group.

The investments will facilitate the setting up of textiles and garments manufacturing establishments in the Enyimba Economic City, Abia State. An earlier Agreement has been executed between Enyimba Economic City Company Limited and Shandong Ruyi for 300 hectares of land for this purpose.

Ruyi has also indicated interest to invest in Lagos and Kano States as well as establish cotton farms in Funtua, in Katsina State.

The proposed $2,000,000,000 investment will cover the entire cotton value chain, farming, ginning, spinning, weaving and power generation to support the processes in Nigeria.

 

These investments are expected to catalyse activities in the textiles and garments segment of the Nigerian manufacturing sector.

COMMUNITY ENGAGEMENT MEETING WITH ABIA STATE GOVERNOR AND COMMUNITY STAKEHOLDERS

In the drive for continuous stakeholders’ engagement, a townhall meeting of stakeholders of Ukwa East, Ukwa West and Ugwunagbo local government areas where the Enyimba Economic City is sited was held at Abia Governors Lodge in Aba on August 15, 2018.  This is a follow up to the 2 earlier meeting of similar nature at the Aba Sports Club on Friday April 7, 2017 and Rowmay Hotel, Aba on Thursday, November 30, 2017.

In attendance for the meeting were the Governor of Abia State, His Excellency, Victor Okezie Ikpeazu, Mr C Darl Uzu, the Managing Director of Enyimba Economic City Development Company Limited and over 150 key stakeholders. The Governor and Mr C Darl both reiterated that the city will be developed in line with the equator principle of world bank which requires compensation. They both added the development company (EECD) have gone over and beyond that requirement with plans to grant equity to the community holding in addition to payment of compensation.

The governor added that the compensation would help to boost the commitment of landowners who would be co-drivers of the project. He also urged the stakeholders to set up committees in their communities that would sensitize their people on the need to support the project, which is expected to create over 500,000 jobs for Abia people.

The Commissioner for Lands and Survey, Chief Uche Ihediwa, who was also in attendance said the ministry’s interaction with the 34 communities involved had reached advance stage. He said the ministry was halfway through its second visitation tour of the communities “preparatory to enumeration, valuation, compensation and commencement of construction”.

The representatives of Ukwa East, Chief Paul Taribo, and Ukwa West, Chief Mezie Nwaubani, as well as former Commissioner for sports, Chief Chinwe Nwanganga and former Commissioner for Women Affairs, Chinedu Brown, thanked the Governor and the Private Sector Developers for siting the project in the area while assuring the Governor of their unwavering support in the bid to make the project a reality.

The meeting was well attended and also had in attendance the traditional rulers of the communities as well as other community leaders.

It is also recalled that Enyimba Economic City Project appointed Community Liaison Officer one each for the 39 communities to engage with stakeholders at the community level.

YU GUI YUAN GROUP VISITS EECD OFFICE ON INTEREST IN DEVELOPING THEME PARKS WITHIN THE ENTERTAINMENT CITY

A delegation from Yu Gui Group visited the management of Enyimba Economic City Development Company Ltd at their Liaison Office in Abuja on June 26, 2018 to discuss their interest in collaboration with the Enyimba Economic City management towards the development of the entertainment sector of the city.

Yu Gui Garden has substantial stakes in over 40 sub-companies and operates hundreds of billions RMB of assets and entertainment parks across China.

Vimen Chung, the Vice President of the Group identified large-scale recreation areas of mainly theme parks, water parks and film & television centers as their primary focus of investment; other areas they are also open to investing in includes super business districts mainly including five-star hotels, conference centers, themed hotel clusters, large-scale centralized commercial buildings, commercial pedestrian streets, food centers, cultural squares, entertainment centers, theaters, and wellness centers.

Mr Darl Uzu the managing director of EECD who received the delegation stated that groups with proven experience in entertainment are welcomed to invest in entertainment city as the plan is to make the Entertainment City within Enyimba Economic City an alternative destination for middle class to international vacations.

ENYIMBA ECONOMIC CITY SIGNS AGREEMENT WITH SINO-AFRICA

In a drive to attract more foreign investment to the Enyimba Economic City, an agreement was signed with Sino-Africa Investment Consultancy Company as Marketing and Investment consultants for China, Hong Kong and Macau on 21st June, 2018 in Beijing, Republic of China.

Mr C Darl Uzu, the Managing Director of EECD signed on behalf of Enyimba Economic City Development Company Limited while Mrs Tracy Huo, the Director of Sino-Africa Investment Consultancy Company signed on behalf of Sino-Africa.

Sino Africa has a proven record of attracting Chinese investment to Africa with successes recorded in Ethiopia and Kenya.

In attendance for the signing ceremony were The Abia State Governor, His Excellency, Dr. Victor Okezie Ikpeazu, Company Secretary of EECD, Barr Chibuzo Ekwekwuo, Member Advisory Board of EECD, His Excellency, Ambassador Empire Kanu and the Director General, Abia State Public Private Partnership Office, Mr Austin Ufomba.

SIGNING OF AGREEMENT WITH SHANDONG RUYI GROUP AS ANCHOR TENANTS

A major milestone was achieved on June 21, 2018, with Ruyi Group signing an agreement as an anchor tenant in Enyimba Economic City, Mr C Darl Uzu signed on behalf of Enyimba Economic City Development Company Ltd (EECD) and Mr Liming Sun signed for Ruyi Group at the Corporate Head Office of Ruyi in Beijing, China.

Mr Liming Sun who is the president of Ruyi Group, acknowledged that the Nigerian delegation for the Signing of the agreement is the strongest Ruyi Group has ever received from Nigeria and thanked both the Federal Government of Nigeria and Abia State Government who are parties to the Development Company of the City for their support so far.

The Enyimba Economic City is being developed through a Public Private Partnership Initiative of Private Sector represented by Crown Realties Plc, Abia State and Federal Governments but will be driven by the Private sector.

Mr Sun stated that the 300 Hectares is for Ruyi to develop their largest garment and textile factory in Africa. 

Mr Qiu the Chairman of Ruyi Group stated that Ruyi Group represents several companies and has partnership with many global leaders in texile, power and other sectors but their key experience is in textile manufacturing where they rated as the largest company in the world.

The Managing Director of EECD, Mr C Darl thanked the leadership of Ruyi Group while acknowledging that Enyimba Economic City Development Company Limited is also in advanced discussion with other anchors.

Several high profile representation from both the Federal Government, Abia State Government, Enyimba Economic City Development Company Limited and Shandong Ruyi Group witnessed the signing ceremony, including Aisha Abubakar , the Minister of State, Ministry of Trade Industries and Investment, His Excellency, Baba Ahmad Jidda, the Nigerian Ambassador to China – His Excellency, Baba, Dr Adeyemi Dipeolu, the Economic Adviser to the President - Dr Adeyemi Dipeolu, Mr Femi Edun, the Special Adviser to the Minister of Trade and Investment, His Excellency, Dr Victor Okezie Ikpeazu, the Executive Governor of Abia State, Dr Paschal Dozie Chairman of Geometric Power and MTN Nigeria,  Prof Barth Nnaji, the Managing Director of Geometric Power, Mr Yafu Qiu, the Chairman of Ruyi Group,  Mr Liming Sun, President of Ruyi Group, Mrs Li Aiying , Chairman of Ruyi Energy Group amongst many other individuals.

SIGNING OF POWER AGREEMENT

 

Power generation and distribution is sealed for Enyimba Economic City by virtue of the agreement between Shandong Ruyi Group and Geometric Power. The agreement set up an SPV Ruyi GP to develop the Oma IPP, a license of Geometric Power for an initial 540MW gas powered generating plant that is scalable to 1080MW.

A further power purchase agreement was signed for the 160MW out of the 540MW for the power need for Ruyi Textile for the 300 Hectares park in the first phase of Enyimba Economic City.

At the signing ceremony are Yafu Qiu the chairman of Shandong Ruyi Group, Mrs Li Aiying, the Chairperson of Ruyi Energy Group who signed on behalf of Ruyi. Prof Bart Nnaji, the former Nigeria Minister of Power and Managing Director of Geometric Power, who signed for Geometric Power.

Others who witnessed the signing ceremony includes the Governor of Abia State, Dr Okezie V. Ikpeazu (PhD), C Darl Uzu, Managing Director of Enyimba Economic City Development Company Limited, Dr Pascal Dozie, Chairman of Geometric Power and MTN in Nigeria, Aisha Abubakar, Minister of State, Ministry of Trade Industries and Investment, His Excellency, Baba Ahmad Jidda, the Nigerian Ambassador to China, Austin Ufomba, Director General, PPP Office Abia State amongst others.

RUYI GROUP TAKES EECD TEAM ON FACTORY TOUR IN CHINA

On the invitation of Shandong Ruyi Group, the management of Enyimba Economic City Development Company Limited visited the Headquarters of Shandong Ruyi Group in Jining China on June 20, 2018 for a factory tour of Ruyi facilities.

 

Speaking during the factory tour, Mr Liming Sun the President of Ruyi Group said that Ruyi Group is a conglomerate with integrated industry chain, owning various proprietary patents in China and best-in-class technology. It ranks first among China Top 500 Textile & Garment Enterprises and is a Top 100 Chinese multinational company. It also owns an A-share listed company in China and a company listed in Tokyo Stock Exchange.

He also mentioned that Ruyi Group has acquired top European and American brands some of which includes but no limited to Ensuite, Lestera, Durban, Maje, Sandro.

He stated that the company have concluded plan for a $2,000,000,000.00 investment in Enyimba Economic City while adding that the purpose of the tour is to help all develop the pictorial view of what they are planning to recreate in Enyimba Economic City.

Mr C Darl Uzu thanked Ruyi Group for the tour while expressing his believe that Ruyi is a worthwhile partner in Enyimba Economic City.