Abia Set For Economic Boom As Smedan Partners ACRO For Industrial Park

Based on its decision to relocate industrial workshops and warehouses within the state to a befitting site, the Abia State Government has entered into a Public-Private Partnership (PPP) framework with a firm, Acroideation International Limited, to commence the development of a $1 billion 300-hectare industrial park to be located at Osisioma.

The project, which first phase was expected to be inaugurated in December 2014 with the construction of about 34,346 units of workshops is however projected to consist of a totalled number of 68,692 units of industrial workshops and warehouses sited on 200 hectares, while 1,000 units of residential estate would occupy the remaining 100 hectares when completed.
Tagged the “Abia International Industrial City” (ABIIC), Head, Project Management Team of Acroideation, Seyi Olufade, told journalists yesterday in Abuja, that ABIIC, which was borne out of the need to establish key sectors of the economy of the state, would establish the foundation for the development of competitive domestic products for export, thus, launching the state into the rich field of global economy within time.

Olufade explained that with all its offerings such as expansive shopping malls, warehouses and over 10,000 capacity commercial car park amongst others, ABIIC which he said, was just about a kilometre from the state’s commercial town of Aba will be operated on a Build Operate and Manage (BOM) basis for 35 years from the date of inauguration by Acroideation.
He also said the firm had secured technical partnerships from European and Chinese firms, adding that the United Nations Industrial Organisation (UNIDO), Nigeria’s Bank of Industry (BoI) and Nigerian Investment Promotions Commission (NIPC) amongst others have shown keen interests in the industrial park.

Olufade said: “With the visit of the then Work Bank President, Paul Wolfowitz, in 2005 to view the popular Ariaria market Aba in company of the now Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, it was clear that all the affluence and influence are tucked in Ariaria market and the sway it portends to the Nigerian economy.

Critical elements affecting the growth of the industrial market include lack of product branding, design, packaging, marketing and funding, the ABIIC project is the response to these problems; it is a landmass of 300 hectares in Osisioma, about 1km from Aba town.”

He disclosed further that the industrial complex would rely on the 24 hours electric power supply pledge of the Geometric Aba Independent Power Plant to power its activities with further alternative arrangements, adding that the PPP had been crafted to insulate it from political interference in the case of changes in government.

“We have the strong partnership of the state government, the needed funding and technical expertise have been secured and we are ready to push forward the project with a groundbreaking event slated for September 2013 to herald the commencement of construction,” he stated.