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Uche Usim, Abuja
Efforts to realise Africa’s industrialisation received a major boost at the weekend with the signing of the development agreement for Industrial Park PK 24 in Abidjan by the government of Cote d’Ivoire and the African Export-Import Bank (Afreximbank).
Afreximbank President, Prof. Benedict Oramah, signed the agreement on behalf of the institution, while Souleymane Diarrassouba, Minister of Trade and Industry, and Moussa Sanogo, Minister to the Prime Minister, in charge of Budget and State Portfolio, signed for the government of Cote d’Ivoire.
In an address at the signing ceremony, Oramah said that Industrial Park PK-24 expected to cost $290 million and have capacity to host up to 60 tenant companies, would focus on the processing of key commodities, including cocoa, cashew nuts, fruits and vegetables, and on light manufacturing in pharmaceuticals, equipment assembly and home appliances, among others.
It would feature inside-the-fence infrastructure, such as roads, power, water, information and communication technology and waste management, manufacturing plants, warehouses, a logistics complex, offices, and commercial and residential buildings, continued the President.
According to him, the Industrial Park is expected to contribute to the industrialization objectives of the Ivorian government by creating over one million jobs, increasing foreign exchange earnings by increasing value-addition and non-traditional exports, and increasing foreign direct investment by offering world-class facilities and infrastructure that will attract investment.
He announced that Afreximbank was mobilizing international companies to acquire and set up agro-processing and pharmaceutical factories and warehouses within the industrial park, saying that the interest from global companies had been significant.
