By Tracy Moses
The Benue Investment and Property Company (BIPC) has valued the assets of Taraku Mills in Gwer-East Local Government Area of Benue State at more than N70 billion as rehabilitation of the long-abandoned facility nears completion.
The Group Managing Director of BIPC, Dr Raymond Asemakaha, disclosed this during an inspection of the facility, expressing optimism that the mill would soon resume production.
Asemakaha commended the quality and pace of work at the facility, saying the progress recorded had raised hopes of an early return to operations.
He said BIPC would immediately supply the mill with a truckload of soybeans for purification and test-running of its production lines.
According to him, the rehabilitation is being carried out by competent professionals, with the aim of putting Taraku Mills’ soy oil on the market by the festive season.
Asemakaha said the revival was part of Governor Hyacinth Alia’s efforts to deliver tangible economic benefits to the people of Benue, despite earlier claims that the project was politically motivated.
He described Taraku Mills, valued at more than N70 billion, as a major economic asset whose revival would help unlock the state’s industrial potential.
The BIPC boss said the facility would initially be managed by experts before transitioning to a proposed public-private partnership (PPP) arrangement.
He added that the host community would benefit from the company’s corporate social responsibility (CSR) programme.
Asemakaha said arrangements would also be made to guarantee the offtake of soybeans produced by farmers in the area, thereby providing them with a ready market for their produce.
On the progress of the rehabilitation, the Plant Maintenance Manager, Engineer James Terngu Ikuve, said about 90 per cent of the rehabilitation and overhaul had been completed.
Ikuve said production would commence once adequate raw materials were supplied, adding that operations would begin in phases, starting with purification.
He expressed confidence that the revival would restore Taraku Mills to its former status and facilitate the production of the locally made Golden Soy Oil.
The Lead Consultant on the project, Saleh Mansur, also said the plant was technically ready for production, with more than 90 per cent of the overhaul completed.
Mansur said the immediate requirement was the supply of raw materials for test-running the facility, urging farmers to increase soybean and groundnut production to meet the mill’s needs.
The planned return of Taraku Mills to production is expected to strengthen the link between agricultural production and agro-processing in the area by creating an assured market for soybean and groundnut farmers.
With rehabilitation nearing completion, attention is now shifting to the supply of raw materials and test-running of the production lines ahead of the planned resumption of operations.