Lagos — Ogun State Governor, Gbenga Daniel, has commissioned four industries built at the cost of N15 billion by a diversified Indian company, Parco Group with manufacturing and trading activities in chemicals, steel and glass.

Parco Group, which has been in Nigeria for over 40 years is chaired by an Indian, Mr. P. K. Gupta and will produce various chemicals and finished products.

The new firms located in Opic industrial zone include African Fertilizer and Chemicals Nigeria Limited which produces 25,000 tons of fertilizer per annum, African Hydrotech Chemicals Limited, which produces alum, at 25,000 tons per year and Sulphuric acid at 50,000 mts per annum.

Others are African Glass Limited which has been described as the first of such in West African region. It produces figured glass, float glass at a capacity of 30,000 metric tons per annum and Parco Gateway Fertilizer Manufacturing Company Limited which is a joint venture between the government and Parco Group.

Gupta's firm has 80 per cent shares while Gateway Holdings Limited, a company owned by the state government has 20 per cent shares. It would produce NPK (Fertilizer) at 60,000 metric tons per annum.

Speaking at the event, Gupta said the most important addition is the NPK fertilizers manufacturing plant based on the fact that most of the raw materials like Sulphuric Acid are sourced from the state.

"So far, most other companies in Nigeria are importing all the ingredients from overseas and simply blending the same without any chemical processing hence without value addition in real terms."

He pointed out that his firm is the first to source raw materials locally adding that all the ingredients plus the manpower to be employed for the project will form about 70 per cent as local content as against the current 100 per cent outlet in foreign exchange availed by some other fertilizer blending plants.

While expressing gratitude to the governor for his interest in the industries, he recalled that in 1921, phosphate rocks were discovered in Ogun State but successive governments have not seen the usefulness.

Responding, Daniel said he has fulfilled his electioneering promise by engaging Public Private Partnership.

"Raw materials are available so it will improve our agricultural production, enhance employment and increase internally generated revenue" he said urging Parco Group to be friendly with the host rural communities.

He described Gupta as a good friend of his administration and Nigeria owing to his hard work in the area of industrialisation.

The Governor recalled that he went to India with his team of commissioners to give a power point presentation to the Ministry of Chemicals and Fertilizers in order to fast track the project.

In his remark, the Indian High Commissioner to Nigeria, Mr. Mahesh Sachdev praised Gupta for his life-long pursuit of bringing Indian expertise into Nigeria and improving the industrialisation.

"He and his family has not only made Nigeria home, they've made it part of their lives We are very proud of his effort in bringing India and Nigeria together at many levels" the envoy said.

He commended him for bringing senior management from India to be in-charge new industries and plants.

Speaking to PTI, Gupta said his major challenge in establishing industries in Nigeria is power supply

"We spend very huge amount to generate our own power because we have build 96 mega watt power plant and planning another 32mw power plant" he said.

According to him, the group has created 5,000 jobs and more than 10,000 other are coming.