The Kogi company is partnering with firms on power and infrastructure projects

The Sole Administrator of the Kogi State Investment and Properties Ltd. (KIPL), Moses Okino, on Thursday, said that the company has increased its capital base from the initial N500 million to N2 billion.

Okino made this known in Lokoja while conducting the new state commissioner for finance and economic planning, Zakari Alfa, round the 300-unit housing project under construction.

He said that the increment in the capital base was largely made possible by the state government via the release of funds to the company.

According to Okino, KIPL was well positioned to play its role of stimulating economic activities and promoting industrial growth of the state.

Apart from the housing project, he said, the company, in partnership with some private investors, had also embarked on the construction of 300-metric-tonne per year capacity cement plant and a bio-diesel refinery in the eastern part of the state.

The Sole Administrator said that the company had also concluded arrangements to build an independent power plant, in conjunction with an American firm, as part of efforts to boost power supply to the state capital, Lokoja, and other parts of the state. 

Alfa, in his response, said that the development of critical infrastructure and creation of an enabling environment for investors would form the policy thrust of the Kogi State government.

He promised to prevail on the state government to make adequate funds available to KIPL for the completion of all ongoing projects.

Alfa said that his ministry would not create room for abandoned projects, and promised to encourage the company to embark on new projects.

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