RSG To Unveil N3.2bn Scrap-To-Wealth Facility, Soon

The Rivers State Governor, Rt. Hon. Chibuike Rotimi Amaechi says his administration is ready to commission a Metal Recycling Plant otherwise known as Scrap-To-Wealth project located in Tai Local Government Area of the State.
The plant, which costs the state about N3.2billion, according to Governor Amaechi, is a partnership between the Rivers State Government and a British firm, Metro Recycling of the United Kingdom .
Amaechi made the disclosure at the weekend during an inspection tour of the Recycling Plant in the Tai Local Government Area of Rivers State.
He explained that the British firm owns 20 per cent, while the Rivers State Government owns 80 per cent equity share of the investment.
According to him, “The Recycling Metal Plant has been completed by the Rivers State Government and  is due for commissioning. The project is a partnership between the Rivers State Government and a British firm with an equity share of 20 per cent and 80 per cent, respectively. Government has so far put in the sum of N3.2 billion”, Amaechi said.
The state chief executive also said, his administration was working out modalities to source for potential investors that will privatize the Scrap-To-Wealth project in order to ensure its sustainability after his administration.
“We want to sell the investment to private investors for sustainability of the Scrap- To-Wealth project, because if you sell it to a private investor, you will see that the project will be sustained”, Amaechi said.
Governor Amaechi further said, the reason for setting up the Scrap-To-Wealth project was to create employment opportunities for Rivers people.
“The interest of the Rivers State Government for establishing this project is to ensure creation of jobs for Rivers people, and I think they deserve it. The project is likely to employ over 200 persons”, Amaechi said.

Senator Magnus Abe (middle), Hon. Dakuku Peterside (left) and Sir Celestine Omehia (right) exchanging pleasantries during a ceremony at St Andrew’s Anglican Church, Rumuobiakani, Port Harcourt , recently.