Osogbo — Osun State Governor, Prince Olagunsoye Oyinlola has inaugurated an Asphalt plant worth over N2 billion with 500,000 tonnes capacity built by an investor from Turkey in partnership with Osun State Government. A crushing plant that would fast track about one million tonnes of quarry was also inaugurated.

The governor, who inaugurated the new industry at Wasimi, Irewole Local Government area of the state, said that the project was an indication to the success of his administration at attracting foreign investment to the state.

Oyinlola explained that the asphalt project initiative intended to fast track rapid economic growth and efficient transport network, a public private partnership, is a tripartite arrangement among ESPRO, the contracting Industry Company Incorporation of Turkey, the Osun State Government and the 30 local government areas in the state.

He said to serve as an impetus to the asphalt company, each of the local governments were expected to purchase 5,500 tonnes while the state government would purchase 185 tonnes of the company's product to guarantee development of the transport sector in the state.

According to the Oyinlola, a three-year local tax exemption has been granted the company so as to help stabilise its operation, adding that the commissioning of the plant would bring down the cost of road construction in the state.

He promised that many industries that were springing up in different parts of the state would soon be commissioned, with a view to providing more employment opportunities in the state.

Speaking on the occasion, the Turkish Ambassador to Nigeria, Mr. Aykut Sezgun, said the investment worth over N2 billion would lead to technology transfer from Turkey to the state.

One of the directors of the company, Prince Tokunbo Sijuade, who read the address of Ooni of Ife, Oba Okunade Sijuade, who was physically present, stressed that the project which the Ooni was among the facilitators, would bring development not only to the area but to the entire state.