Governor Obaseki of Edo State (file photo)
Firm invests N24b in integrated farm in Edo
By Valentine Amanze
Saro Group of Companies has invested not less than N24 billion in an integrated farm in Edo State to boost local production of raw materials for use in the manufacturing sector, especially the food and beverages sub-sector.
The Chief Executive Officer of Saro Group of Companies, Mr. Rasheed Sarumi, who disclosed this during an inspection of the farm site, said the integrated agricultural project was a joint venture between Saroafrica and Mohinani Group under the Green Hills Agric Projects.
He hailed the Governor Godwin Obaseki-led government for creating a business-friendly environment, assuring that the factory would be commissioned in quarter one, 2023.
Sarumi said that the project was valued at N24 billion, adding, “This is an integrated agricultural project. This factory needs 480 tonnes of cassava per day and there are about 5,000 hectares of land to grow. Already, 1,500 have been grown; 350 people from neighboring communities will work here on the feedstock alone.
“The 480 tonnes per day will be converted to waste for feedstock for the piggery.”
On his part, Governor Obaseki said, “This project is very significant and important as it is a project where almost a 100 percent of raw materials needed are sourced locally and 100 percent of the outputs are feedstock to other companies and industries, particularly in the food and beverages sector, whether it’s ethanol or carbon dioxide.”