Abia State government has granted Presco Plc permission to commence palm oil production, with a target of creating 5,000 jobs.
Presco, the agro-industrial company saddled with the responsibility will have its operation involved in the rehabilitation of Ulonna Farm Settlement in Umuahia and the development of additional palm plantations in Ozuitem and other parts of the state.
Governor, Alex Otti of Abia State announced this during a meeting with a delegation of the firm led by its chairman, Rashid Sarumi, at the Government House, Umuahia, the state capital.
Governor Otti assured the company that his administration would facilitate access to additional land and was ready to conclude the necessary agreements for the smooth take-off of the project.
He described the state as an attractive destination for investment in the South East and South-South, with availability of skilled manpower, infrastructure and government support.
The chairman of Presco said the company had spent seven months engaging stakeholders towards establishing the project, describing the project as viable.
Sarumi noted that, in addition to job creation, the project will generate state tax revenue and provide goods and services to support plantation operations.
He lauded the administration for its understanding of business and support for the project, and expressed confidence in the company’s ability to establish a successful operation in the state.
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