South African investors, Simang Group, working with the Federal and Enugu State Government, have begun moves to revive the coal industry in Enugu.
The investors, led by Dr. Basil Enwegbara of the Pan Africa Group and Stephen Paddy, Chairman of Simang Group, during a visit to Governor Ifeanyi Ugwuanyi at the Government House, yesterday, hinted that the principal objective of the investment drive was to use coal to generate electricity and then spin a chain of allied business activities for the benefit of the people of the Southeast and Nigeria as a whole.
Ugwuanyi told the investors: ìWe have always been hopeful that coal will once again play a major role in the economic development of the country.
Our opportunity to actualise the dream has come. This meeting offers Enugu State Government the opportunity to establish a relationship with the Simang Group.î
Speaking on behalf of the investors, Enwegbara, who is the Executive Vice Chairman of Pan African Development Corporation, assured that their intervention would certainly change the narrative of electric power generation in Nigeria, especially in the Southeast.
Paddy, on his part, told the governor: From the South African perspective, I am interested to make sure that I facilitate trade and investment, when there is need for Nigerians to use their natural resources to curtail the challenges that the country is facing to make sure that the economic development within the country is achieved
Director General of Voice of Nigeria (VON), Mr. Osita Okechukwu, said he was just a messenger there to deliver a message from President Muhammadu Buhari, who directed him to tell Ndigbo that he has commenced the first phase of the promise to revamp Enugu coal to generate electricity and employment.
He said after a careful evaluation of all the companies that indicated interest by the minister of Mines and Steel Development, Simang group was chosen to partner with Federal and Enugu State Governments to revamp Enugu coal.