Valentine Okorie, the Chief investor and CEO of Mimshac Transportation Technologies Limited, Itu, in Akwa Ibom State says first vehicles assembled at the plant will be rolled out in the first quarter of 2022.
Okorie disclosed this to journalists on facility visit to the company premesis to ascertain the progress of work.
He explained that the assembly plant located at Ikot Ukap Itam, Itu LGA, when completed, would have the capacity to produce 1,000 commercial vehicles yearly.
Okorie praised Akwa Ibom state government for creating a conducive environment for private investors to come into the state and promised that the plant would not go the way of PAN, VON and ANNAMCO which folded up after a while.
He said the state governments in keeping with its industralisation drive had acquired land for the sitting of the plant and also constructed a dedicated power line to feed the automobile plant.
Okorie, however, regretted that the delay in the project was due to the outbreak of the COVID19 pandemic and certain policies of the federal government.
He disclosed that the firm was working with an Israeli automobile manufacturer – Mervan, as its technical partner.
The partnership according to him will assist in technology transfer and backward integration.
He called on the federal government to make more reforms in the area of ease of doing business in the country.
“The plant is about 90 percent completed. Everything you see here is prefabricated and brought for installation, as you can see the electrical, the production area and the spraying area have been completed.
“We have fixed the offices, and I can assure you that in the next six months, commercial vehicles from this plant will be in the market. Our target is to produce 1000 vehicles in a year.
“We must commend the state government for looking at other ways of generating allocation for the state, not just the allocation, but, something that can generate jobs and employment for the people. The government has assisted us by providing this land free and we have a dedicated power line drawn to the factory.” He said.
He called on government at all levels to invest in the transportation sub sector which he reasoned was capable of generating several thousands of jobs and other investment opportunities.
‘This is the first vehicle assembly plant in the South-South region, what Innoson is doing as a private investor is commendable, but, we are coming to take the automobile industry to another level, because of the types of vehicles that would be assembled here. Other assembly plants like PAN, VON, and ANNAMCO came and gone, but, we are coming to stay”, he added.
The chairman, Correspondents’ Chapel, Comrade Idongesit Ashameri applauded the investor for taking the challenge and the courage to venture into automobile assemblage and production.
She said that the facility visit was undertaken to ascertain the progress of work and to gather facts from the management of the company in order to be adequately informed to inform the public on the industralisation drive of the state government.
Ashameri explained that the visit was part of activities to mark Chapel’s week, which according to her included, media roundtables, games, lecture and training programmes to equip members for effective and diligent reportage of activates in the state.
