Signal Group Limited, a company owned by a former Borno State Governor, Senator Ali Modu-Sheriff, has renewed talks with the Ebonyi State Government for the establishment of a cement plant in Ebonyi State.
Modu-Sheriff, who was received by the State Executive Council in Abakaliki on Friday, said his firm was interested in the state because of its large deposit of natural resources for cement production.
He said: “Ebonyi State has the largest deposit of limestone and kaolin in the South-East zone of the country. Limestone and kaolin are the two main mineral resources needed to produce cement.”
He noted that the company was presently studying a Memorandum of Understanding with the state government to execute the project, saying it was optimistic of succeeding unlike other organizations in the past.
Modu-Sheriff said: “The state governor has shown great resolve to develop the state as we have always succeed with serious-minded people like him, who are determined to diversify their state’s economy.”
The former governor noted that since the country was experiencing economic downturn because of the drastic drop in oil revenue, serious economic diversification was needed by governments at all tiers.
Modu-Sheriff also commiserated with the governor on the death of his mother and promised that his company would participate actively during her burial.
Umahi, in his reaction, noted that Ebonyi State was in a hurry to diversify its economy, as it was endowed with abundant mineral deposits ready for harnessing by investors.
He also said: “We are ready to collaborate with you to achieve this goal and would consult further due to the reservations noticed in some aspects of the MOU.”
The governor noted that the state was not financially capable to execute the project and called on the company to assist in providing the state’s share in the project.
The Senior Special Assistant to the Governor on Cement Production, Chief Sunday Ugwuocha, noted that the Signal Group limited had sought to execute the project in 2013 but the then administration did nothing about it.