RIVERS: GOV. FUBARA ATTRACTS FOREIGN DIRECT INVESTMENT FDI, TO RIVERS AS ALUMINUM ROLLING MILL, GETS UNDERWAY.
7.6 million people projected in 2023 and forecasted to be 10.3 million by 2032 – a 36% increase over 2023.
$19.7 billion economy projected in 2023 and forecasted to reach $28.0 billion by 2032 – a 43% increase over 2023
Uses a projected 28,000 metric tonnes of aluminum in 2023 and is forecasted to reach 54,000 metric tonnes by 2032 – a 92% increase over 2023
Rivers State is one of the most populous states in Nigeria with a population of over 7.6 million; and is a major gas and oil state in Nigeria and is home to a number of other industries, i.e., agriculture, manufacturing, and tourism. Rivers State is one of the most – economically developed states in Nigeria. This growth is due to a number of factors including abundant natural resources, strategic location on the Atlantic coast, well-developed infrastructure, and a favorable business environment. The growth will have a number of positive benefits, i.e., poverty reduction, job creation, and improved living standards. The company’s proposed rolling mill will positively impact these and other benefits.
WHY BUILD A STATE-OF-THE-ART ALUMINUM ROLLING MILL IN RIVERS STATE, NIGERIA?
Bottom-line: The construction of a state-of-the-art aluminum rolling mill in Rivers State will generate a significant number of tangible benefits.
Some of the immediate and longer term key benefits to Rivers State include:
Job Creation – Approximately 1,000 direct and up to 5,000 or more indirect / support.
Economic Growth – A new source for aluminum exports as well as tax revenue.
Technology Transfer – New technologies will help to boost industrial development.
Infrastructure Development – Lead new infrastructure such as roads and power plants.
Export Growth – Boost exports by providing source of high-quality aluminum products.
Import Reduction – An increase in domestic supply of aluminum would reduce the need for imports and would have a positive impact on the country’s balance of trade
– Arc Samuel Meme
#Fubara, #Riverstategovt, #Foreign investor’s, #FDI, #Aluminium ROLLING MILL,