Entrepreneur Commends Fubara on $300m Waste-to-Wealth Project

Blessing Ibunge in Port Harcourt

A real estate investor, My-ACE China, has commended the Rivers State Governor, Siminalayi Fubara, for signing a $300 million waste-to-wealth deal with local and foreign investors, aim at boosting the state economy. 

China, who is the Chief Executive Officer of the Housing and Construction Mayor Limited, made the commendation, after bagging an award of ‘Pillar of Entrepreneurship’ at the 20th anniversary of the National Network Newspaper held in Port Harcourt, at the weekend.

The state government signed the Memorandum of Understanding with the Omene Group, a local company, and Intec of Germany. The MoU is worth about N512billion. 

 China said the MoU justified that local investors, if treated well, are in better position to attract foreign investors, noting that Rivers State is ready for business despite the few negative instances.

The real estate strategist described the deal as a direct fallout of the Economic Summit held in Port Harcourt in May 2024, and commended Governor Fubara for steadily following the recommendations of the Summit.

 He said: “I am not just excited about this event at the government level where an MoU was signed between the Omene group which is a local direct investment (LDI) group, and the Itec group, a Germany company which is a foreign direct investment (FDI) company.

 “I have been shouting that once we have a government that has the body language to make doing business in Rivers State easy, which is what the governor of the state has done. He has not only demonstrated but has been implementing everything we suggested at that economic summit including the establishment of the Rivers State Investment promotion agency.

 China added: “Port Harcourt is safe, enough for a German company to come and invest. Port Harcourt has that synergy where local investors that are treated well invite foreign investors to tell them let’s come and share in the booty.”

On his award, China said  it was his first from a newspaper organisation.  

 In his remarks, the Editor-In-Chief of the newspaper, Mr Chris Konkwo, traced the difficult years of the organisation and appealed for public support to sustain institutions that help to defend human rights and rights of the ordinary people.