The Cross River State Council on Privatization has received bids for privatisation of the Nsadop Oil Palm and Boki Oil Palm Estates.

Chairman of the privatisation council, Chief Bassey Okon, stated yesterday that the technical bid opening exercise was aimed at reviving moribund state assets and putting them to productive use to create opportunities for people of the state.

"We are working with clarity and focus in line with the government's vision. This open bidding process is targeted at credible companies with proven capacity.

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"One of the governor's key priorities is to develop the state through mechanized agriculture, and these estates present a vast opportunity in that regard," the chairman said.

The combined land area of the estates is approximately 10,000 hectares with potential for expansion and job creation for about 6,000 unemployed youths in the state, he said.

"The bidding process targets credible companies with proven integrity and capacity.

One of the Governor's priorities is to develop the state through mechanized agriculture.

Presco Plc a member of the Siat Group, submitted a bid and expressed optimism about the project," he added.

Managing director/CEO of Presco Plc, Mr. Reji George--whose company, a member of the Siat Group, submitted a bid--expressed optimism about the project.

"We have visited the land, conducted due diligence, and are excited to submit our technical bids. Presco has a strong track record of bringing development wherever we operate.

"We are committed to this project and confident in our ability to deliver world-class production facilities here, potentially expanding if more land becomes available. We also pride ourselves on maintaining excellent relationships with host communities," he stated.