<\/p>\n
The company Secretary and Legal Adviser to the project, Chibuzo Ekwekwuo
\nrevealed this at Government House, Umuahia while making presentations to
\na group of Igbo economic professionals, Nzuko Umunna.<\/p>\n
Ekwekwuo described then endorsement as a landmark in the project’s
\nhistory and added that the endorsement indicates that EEC project has
\nthe potentialities of ranking among the top flight business deals in
\nAfrica.<\/p>\n
He further noted that the project ranks as the single largest
\ndevelopment project in the country ever captured in an public private
\npartnership arrangement.<\/p>\n
Ekwekwuo anchored his claim on the premise that the project\u00a0 is 100%
\nprivate sector driven with a clearly defined shareholding structure of
\n50 Billion shares. 50% of the shares have already been subscribed while
\nthe remaining 50% will be publicly offered through an Initial Public
\nOffer within the first five years of the commencement of construction.<\/p>\n
According to him, some of the features of the project include an
\nuninterrupted power at the City to be generated independently of the
\nNational Grid through the construction of a dedicated Power Plant in
\naddition to the Power Purchase Agreement already signed with Geometric
\nPower with guaranteed financing of 135 Million Dollars already in place
\nby Chinese Textile Giants RUI Group.<\/p>\n
The project is also expected to have its own private sector driven
\nadministrative agency to ensure first class service to its stakeholders.<\/p>\n
IFC is an investment arm of\u00a0 the World Bank Group. The group possesses
\nover 60 years experience in unlocking private investment, creating
\nmarkets and opportunities where they are needed most and\u00a0 has leveraged
\nover 2.6 Billion Dollars in Capital to deliver more than 285 Billion
\nDollars in business financing in developing countries.<\/p><\/div>\n<\/div>\n
Enyimba Economic City project has received another boost as a renowned name in global financial management services, International Finance Corporation has signed an agreement with the project. IFC is…<\/p>\n","protected":false},"author":1,"featured_media":67765,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-67764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n