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N240 Billion Investment will be attracted to Enugu Free Trade Zone

N240 Billion Investment will be attracted to Enugu Free Trade Zone

By Mohammed Shosanya

The Enugu Power and Energy Industrial Free Zone in liaison with the Nigeria Export Processing Zones Authority (NEPZA), Nigerian Customs Service (NCS), Nigeria Immigration Service (NIS), which is focus on power generation, energy conversion technologies and manufacturings. N240 Billion Investment will be attracted to Enugu Free Trade Zone.

The Federal Government's questto diversify the nation's economy has received a boost as a globalmanufacturing companies have concluded plans to invest the sum of N240billionin the Enugu Free Trade Zone, which would also create over 20,000 jobs acrossthree major regions in the country.

Governor Ifeanyi Ugwuanyi of Enugu stateis expected to perform the ground breaking ceremony of the facility on November24, this year, according to a statement yesterday.

Licensed by the Federal Government tooperate as a free trade zone in December, 2015, ENPOWER FTZ is a Public-Privateinitiative with the Enugu State government offering international and domesticinvestors the benefits of connecting to business opportunities from theSouth-Eastern cluster, which according to Canback and Company and the McKinseyGlobal Institute, is the second largest economic cluster in Nigeria, outside ofthe Lagos Cluster.

Enpower, which is affiliated, as a fullvoting member; to the Dubai-based World Free Zones Organization (WorldFZO) andthe Africa Free Zones Association (AFZA) respectively, intends to function as acertified Smart-Mart-Sustainable and safe free trade zone.

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