From Joe Effiong, Uyo
Akwa The Ibom State Government has guaranteed a N4.7 billion loan to the Digital Automobile Assembly Plant of Mimshac, a private automobile company located in Ikot Ukap Itam, Local Government Area from Itu of the State.
Governor Udom Emmanuel had written to the House of Assembly asking for approval of the bank’s loan guarantee.
In a message to the president and read out by the clerk, Ms. Mandu Umoren, in plenary on Tuesday, the governor said the loan would help implement the memorandum of understanding (MoU) between the state and the auto plant. digital from Mimshac for the sum of $10,000,000 (equivalent to 4.7 billion naira at the exchange rate of 470 naira to $1.)
Udom said the loan would also help finance the purchase of semi-knocked down and complete knocked down (CKD) parts for the assembly of 85 luxury stainless steel 20-seat buses and facilitate the training of 20 people recommended by the state government on vehicle assembly and manufacturing in Israel.
Some of the lawmakers, Udo Kerian Akpan, Aniekan Uko, David Lawrence and Kufreabasi Edidem in their submissions said the car assembly plant, when fully functional, would boost the state’s economy and create more jobs. jobs for young people.
The request was unanimously supported by all members of the House and subsequently approved.
Lawmakers assured the House will continue to support Governor Udom in his quest to leave the state better than he met.
Speaker Aniekan Bassey ordered the Clerk of the House to communicate the resolution to the Governor.