Date Published: 03/01/10

Korean Investors to build low cost houses in Ekiti

Professor of Engineering, Prof Sang Chaun Lee of the Kyaunggnam University, South Korea presenting a model Medical Centre to Ekiti State Governor, Engr. Segun Oni during a business meeting with some Korean Investors, who visited the governor ...yesterday (Photo: Govt. House)

A group of South Korean investors who are on an exploratory visit to Ekiti State has indicated interest in investing in the areas of solar technology and low cost housing in the State.

The team which is led by a renowned Professor of Engineering, Prof Sang Chaun Lee of the Kyaunggnam University, South Korea during a business meeting with the state delegation led by Governor Segun Oni and Deputy Governor Sikiru Tae Lawal said it was ready to construct low cost housing units, using monazite materials for building and complete solar lighting at the cost of $10,000 per unit.

The Korean investors also expressed interest in the areas of New town Development, Construction and development of schools and hospitals as well as construction of industrial parks and small and medium scale factories.

Apart from Prof. Lee, other members of the contingent included Managing Director of SH Heavy Industries, Mr. Seong Nam Hong, Geolin Company Ltd., CEO, Mr. Iman Byun and Mr. Heungsik Oh of Yungbo Chemical Company.

Responding, Governor Oni urged the South Korean investor to take advantage of the abundant human and material resources as well as the favourable business   climate in the state by investing in the state.

He stressed the readiness of the State Government to collaborate with the investors in the areas of education for science and technology and human resources development

Oni said particular efforts would be geared towards forging a working relationship between the newly established University of Science and Technology, Ifaki-Ekiti (USTI) and the Kyaunggnam University of South Korea.

He said his administration intended to develop USTI into a compact and efficient institution with world-class infrastructure using local building materials available in the State such as clay, kaolin and granite.