Chinese investors have signed a Memoradum of Understanding MoU with the traditional ruler of Isiagu Ancient Kingdom in Awka South Council of Anambra State, Igwe Augustine Nwankwo, for the establishment of some light industries in the community.

Igwe Nwankwo who disclosed this in his palace at a joint consultative meeting between him and the investors, said the exercise will create more than 2,000 jobs. According to him, the industries will be established in phases, starting with construction of two factories for production, distribution and marketing of GSM telephone accessories, and another for production of bags, in the first quarter of next year.

The visit by the investors was in part fulfilment of promise to the citizens that he would use the platform of his traditional office to attract development to the community and boost the economy, with a view to generating employment opportunities and improving the quality of life.

According to the leader of the Chinese team, Mr Chen Jiezhou, the two proposed factories are expected to be ready in 18 months, and will be first amongst others to be built in parts of the country which was the reason for visiting places like Onitsha, Abuja, Enugu, Asaba, Aba  and Lagos .

He said they are also interested in the provision of electricity and wood production. He said they repose confidence in the monarch who has had a long and mutually beneficial relationship with Chinese companies as they have an understanding to visit his community and other Nigerian cities to build factories, assuring that feasibility reports show that the raw materials and markets are available.

Igwe Nwankwo noted that the projects will provide 2,000 high net worth jobs to the people and boost the economy of the state, while reducing the high cost of telephone accessories and packaging in the country. The investors later visited some industrial sites in Isiagu and paid a courtesy call on the Anambra State Director of State Security Service. Mr Alex Okiyi.


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