China to invest $10bn in Cross River –Gov Ayade

DETERMINED to set Cross River State on a sound industrial footing, Governor Ben Ayade said arrangements have been
concluded for Henan Province of China to commence construction of $10 billion projects in the state.

Similarly, the same Henan Provincial Government would build a new China City in Cross River.Ayade, who said this in Calabar, also disclosed that the state would soon witness the arrival of 100 investors from Henan who would set up various companies and industries in the state.

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

“We have a large group coming in for the agriculture, huge investments coming in terms of re- newable energy; we have a large group coming in terms of garment factory, we have a team also coming to invest in hydro- power project and the sea- port,” Ayade emphasised.

He disclosed that a logistic hub for the whole of Africa that would focus

on the manufacturing sec- tor will also be established in the state, stressing that with the necessary arrangements on ground, his earlier budget of N350 billion for the 2016 fiscal year would be surpassed.

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