FG PLANS INDUSTRIAL REVOLUTION - AGANGA

An industrial revolution that would ensure optimal exploitation of the nation's human and natural resources for the common good is in the offing.

Minister of Trade and Investment, Dr. Olusegun Aganga dropped the hint yesterday when he visited the Eleme Petrochemical Company Limited (EPCL) near Port Harcourt. The company, which manufactures integrated polyester products is being managed by Indorama of Thailand.

Aganga said the planned revolution would harness the country's comparative and competitive capacities of important sectors. He spoke of the central government's determination to shore up the potentials of the agriculture and agro-allied industry as well as the solid minerals and oil and gas industries. He said the administration was conscious of the importance of the petrochemical industry in industrialisation and would exploit available opportunities.

'We intend to develop a strong petrochemical industry. Since EPCL is already a top global player whose revenue has grown significantly with $45 billion accruing to the Federal Government, our vision is to accelerate this trend so that we can become one of the industrial leaders worldwide.

'Indorama is a success story from what I have seen. With its accomplishments, we project that we will be among the top 10 globally and among the top three in the African Continent.'

The minister was optimistic that with $575 million invested over the years and another $2 billion set aside for the next few years to boost methanol and fertilizer production in the country, Indorama would maintain its profile as a market leader in the industry.

He commended the efforts of the company's management and pledged government's commitment to creating conducive environment to enable investors have rewarding outing in the country.

Earlier, the company's Managing Director, Mr. Manish Mundia assured that EPCL would support the Federal Government to achieve its set industrial goals.