China To Commence $10 Billion Project In Cross River

The Cross River State Governor, Ben Ayade, says arrangements have been concluded for Henan Province of China to commence construction of $10 Billion project in the state.

He gave the hint about the project agreement while addressing reporters at the Margaret Ekpo International Airport, Calabar on Thursday.

Governor Ayade said that the state would witness the arrival of 100 investors from Henan, who would set up various companies and industries in Cross River.

He also stated that the Henan Provincial Government would build a new China City in the state.

According to him, other team of investors would focus on various key projects, including huge agricultural investments, renewable energy, the garment factory, hydro power projects and the seaport.

Ayade further revealed that a logistic hub for the whole of Africa that would focus on the manufacturing sector would be established in the state.

He stressed that with the necessary arrangements on ground, his earlier budget of 350 billion Naira for the 2016 fiscal year would be surpassed.

Speaking about the Calabar Carnival, touted as the largest street party in Africa, the governor maintained that it would be awesome, filled with new excitement and a deepened content.