The Enugu State government has inked an N40 billion Memorandum of Understanding (MoU) with the Jelfah Group.
According to Obinwannem, the Enugu State government has signed an N40 billion Memorandum of Understanding (MoU) with the Jelfah Group to reopen the Sunrise Flour Mill in Emene.
At the signing ceremony, Enugu State Governor Peter Mbah reaffirmed his commitment to collaborating with investors to reduce investment risks and ensure economic growth in the state.
The mill was founded in 1983 with the potential to produce flour, semolina, and wheat, but production halted only two years later, in 1985.
Mbah stated that the agreement is a win-win because it involves divesting 60% of the 40 billion Naira contract with Jelfah to revitalise the moribund mill.
Jelfah Group’s Managing Director, Moses Saromi, stated that the governor’s promise pushed the company to Enugu as the partner’s preferred location.
During the breakup of the equity share discrepancy, the investor committed to launching the redesign in earnest.
In addition to wheat manufacture, the investment includes the cultivation of farm supplies for the flower mill through a backward and forward integration process. Mbah vowed to boost the state’s economy by revitalising inert and moribund assets when he took office on May 29, 2023.