Enugu Signs N40bn MoU To Revive Moribund Sunrise Flour Mill
The Enugu State government has signed a N40 billion Memorandum of Understanding (MoU) with JELFAH Group to revive the Sunrise Flour Mill in Emene.
At the signing of the deal, Enugu State Governor, Peter Mbah, reiterated his commitment to working with investors to mitigate investment risks and assure their economic growth in the state.
The mill was established in 1983 with the capacity to produce flour, semolina, and wheat, but ceased manufacturing only two years later, in 1985.
Mbah noted that the transaction is a win-win by divesting 60% of the 40 billion Naira contract with JELFAH to revitalize the dormant mill.
In his remark, JELFAH Group’s Managing Director, Moses Saromi, said that the commitment exhibited by the governor drew the company to Enugu as the preferred location for the Partnership.
During the breakdown of the equity share difference, the investor made a commitment to start the redesign in earnest.
The investment, beyond wheat manufacturing, involves the cultivation of farm supplies for the flower mill via a backward and forward integration process.
Mbah on assumption office on May 29, 2023, promised to grow the state economy by revitalizing the state’s dormant and moribund assets.
