Business

Innoson to site new manufacturing plant in Rivers

Investment set to boost South-South economy

From Okwe Obi, Abuja

The Chairman of Innoson Vehicle Manufacturing Company Limited, Innocent Chukwuma Ifedaso, has revealed plans to establish a vehicle manufacturing plant in Rivers State.

In a proposal letter dated 7 June 2024, addressed to Rivers State Governor, Sim Fubara, and made available to journalists yesterday, Ifedaso said the initiative marked a significant expansion of the company’s operations in the South-South region of Nigeria.

He emphasised the importance of Opobo Kingdom’s location and its rich history, noting that establishing the manufacturing facility aligns perfectly with the company’s mission to promote local industry and drive socio-economic growth nationwide.

“This groundbreaking development is poised to elevate the social and economic standards in Opobo Kingdom and neighbouring communities in Andoni and Ogoni in Rivers State,” said Ifedaso. “We look forward to the successful takeoff of this major investment.”

“The new facility is expected to bring substantial economic benefits to the region, fostering an environment of industrial growth and innovation. The establishment of this plant is a significant step forward in boosting local manufacturing capabilities and underscores Innoson’s commitment to supporting the Nigerian economy.”

Read also: Innoson builds multi-billion naira plant to produce 30,000 CNG buses, trucks annually

Ifedaso said he first considered the state for its South-South headquarters before finally settling on Opobo, after a series of meetings and persuasion from the management and board of Rivers Legacy Projects Limited, led by Dagogo Fubara.

Expressing readiness to commence construction of the manufacturing plant in Opobo, Ifedaso noted that the establishment of the company would undoubtedly raise the social and economic bar in Opobo Kingdom in particular and Rivers State in general.

He emphasised that the establishment of the company would benefit the community and Rivers State in areas of employment creation, skill development, economic growth, community development, revenue generation, as well as attraction of further investment and industrialisation.

“Opobo Kingdom, with its rich historical significance and strategic location, presents an ideal environment for our expansion plan. Establishing a manufacturing facility in this area aligns perfectly with our mission to promote local industry, create employment opportunities, and drive socio-economic growth across the nation.

“We have conducted a preliminary assessment and are convinced that Opobo Kingdom offers numerous advantages for our operations, and the establishment of our manufacturing facility in Opobo will yield significant benefits to both the local communities and the Rivers State government.”

The decision, hailed as a groundbreaking development, was facilitated by the efforts of Rivers Legacy Projects Limited, led by Dagogo Fubara. The team successfully convinced Innoson to invest in the region.

Fubara, expressing his delight at playing a pivotal role in securing the investment, highlighted the immense benefits it would bring to the people of Opobo Kingdom and the wider Rivers State community.

“This development is expected to create numerous employment opportunities, enhance skills development, drive economic growth, and attract further investments to the region,” he stated.

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