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Enugu State Government and Jelfah Nigeria Ltd finalize ₦40bn agreement to revive Sunrise Flour Mills, with Jelfah acquiring 60% stake and investing ₦24bn.
Enugu State Government and Jelfah Nigeria Ltd have finalized a ₦40 billion agreement to revive the inactive Sunrise Flour Mills, operational since 1985.
Jelfah will acquire a 60% stake and invest ₦24 billion, while the state retains 40%.
Governor Peter Mbah highlighted the deal's significance for economic growth, aiming to boost the economy from $4.4 billion to $30 billion through private investment.
The project includes cultivating 10,000 hectares for local inputs.
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El Gobierno del Estado de Enugu y Jelfah Nigeria Ltd finalizarán un acuerdo de 40 mil millones de libras para reactivar los molinos de harina Sunrise, y Jelfah adquirirá un 60% de participación e invertirá 24 mil millones de libras.