By Mike Adeyemi
Harmony Holdings Limited (HHL) has said a sum of N100m has been expended on the renovation of Kwara Cashew Processing Industry in order to ensure effective operation of the manufacturing company and boost the state economy.
The Head of Corporate Affairs of HHL, Mr Kayode Aremu said Kwara Cashew made the disclosure during an interview with Pilot Business recently.
According to him, the company was not in operation for some years but was revived through massive renovation and expansion for smooth operations.
“Harmony Holding Limited has injected about N100 million in massive renovation, massive expansion and merger of some structure in the company so has to have an unhindered flow in the mechanical process of the production like washing and drying, so that all processes could be done under the same structure unlike before.”
He explained that the company has been handed over to a private operator, Olam Nigeria Ltd to run, adding that it has been equipped with state-of-the-art equipment.
Aremu noted that the company is one of the few in existence in Nigeria, saying that the effort has brought about a multiplier effect on the state economy with the creation of about 600 jobs.
The development, he added, has brought about reduction in the rate of unemployment in the society, saying further that farmers too have benefitted immensely from the company by buying their crop.
“This has boosted the activities of farmers and transporters and directly will boost the tax generation of the state government,” he noted.
He assured that other moribound subsidiary companies such as the Kwara Paper Converter, Erin-Ile under the management of HHL would be revived.
He further disclosed that no fewer than 800 job opportunities would be created at the cashew processing company soon.
‘The planned provision of bridge at Lafiagi by Harmony Holdings Ltd under the Phase II of its strategic plan will not only ease transportation across the River Niger, but will boost economic activities in the area, thereby enhancing the capacity of the citizenry, both economically and socially.
“The strategic aim of Harmony Holding Company is to complement the Kwara State Government in its on-going efforts at generating much needed employments for teeming youths in the State, and ultimately expand the economy of the State,” he stated.