Kwara Starts N70 bn Rice Project, Dec.

The Chief Press Secretary to the Kwara state governor, Alhaji Abdulwahab Oba, has said that the state’s N70 billion joint venture rice cultivation and processing project with Vasolar S. L. 2006 of  Spain would commence by December 2012.

Oba, who stated this over the weekend in Ilorin in an interview project has an initial life span of four years.

He explained that a letter  to  received by the government from Vasolar SL. 2006 stated that the company had secured the funds to execute the project.

“Following its board’s earlier  approval of the project, it is ready to commence operations within the next 90 days.

“Consequently, the desire of the Kwara State Government to establish  herself  as a hub for agriculture in the West African sub-region has finally materialised”,  he said.

The Senior Special Assistant to the governor on Investment, policy and strategy, Abayomi Ogunsola said that under the terms of the joint venture, the company would invest N70 billion in the project in the next four years.

He explained that the state government would provide 20,000 hectares as well as infrastructure support for the project.

The SSA said that it would operate under a registered joint venture company, Vasolar-Kwara Limited.

According to him, each annual  module of the project would see the company cultivating 5,000 hectares, producing  40,000 tonnes of rice for local  and international consumption.

“Following satellite and laboratory soil analysis earlier in the year, Vasolar-Kwara has decided to site the projects in communities  along the River Niger in Kwara North namely, Isonga, Pategi, Bacita and Lafigi.