The sunrise flour mills was established in 1983 by the Enugu state government with production lines for flour, wheat, and
Enugu, Nigeria – Enugu State Governor, Peter Mbah, announced a N40 billion deal with Jelfah Nigeria Ltd to restore the long-abandoned Sunrise Flour Mills in Emene.
The agreement, shared via the governor’s social media account, marks a step in the state’s ongoing efforts to revitalize its ailing assets.
The deal grants Jelfah Nigeria Ltd, led by Chairman Moses Saromi, a 60% equity stake in the project, with a commitment to invest N24 billion. Of this amount, N22 billion will be directed towards the revitalization of the mills, while N2 billion will benefit the state directly.
This development follows closely on the heels of a recent N100 billion deal aimed at reviving Enugu United Palm Products Limited. This move aligns with the state’s broader economic strategy, which aims to boost its economy from $4.4 billion to $30 billion within the next four to eight years, primarily through private sector partnerships.
In addition to the mill’s revitalization, the agreement includes the establishment of a Special Purpose Vehicle (SPV) that will oversee the cultivation of 10,000 hectares of farmland dedicated to producing inputs such as cassava and grains for the flour mill.
“This partnership demonstrates our dedication to creating a business-friendly environment and empowering our people,” Governor Mbah stated. “When we say Enugu State is open for business, we mean it.”
He expressed his gratitude to Jelfah Group and its chairman for their trust and commitment to the project, describing the deal as a “win-win” for both investors and the people of Enugu State.
Governor Mbah concluded by encouraging more investors to consider Enugu State, stressing the government’s readiness to support ventures that contribute to the state’s economic development. “Enugu is ready for business, and we are eager to partner with those who share our vision for growth,” he said.
Join our Channel...