Cross River — US-based General Electric Corporation is set to begin construction of a multi-billion naira manufacturing plant at the Calabar Free Trade Zone, Cross River State.
General Manager of the Zone, Sadiq Kassim, said this yesterday when the National Good Governance Tour team went on an inspection of the facility.
Kassim said the corporation has since signed a Memorandum of Understanding to establish a $250 million production facility in the Free Trade Zone.
The production facility has a component to train skilled manpower in engineering, particularly in the area of manufacturing.
The facility would also be involved in the production of power turbines for the National Independent Power Project, train coaches, engines for aeroplanes and highly sensitive hospital equipment among others.
Information Minister, Labaran Maku, said the $1 billion investment would boost the Nigerian economy being the single biggest investment in the country since its independence