A leading oil palm company, Presco Plc, revealed that it is set to commence the construction of Ugo-Evboesi axis of the Benin-Abraka road under the Edo State Infrastructure Development and Social Investment Tax Credit Scheme.
The scheme was set up by Governor Godwin Obaseki to enable companies undertake major projects within the state so as to expand their footprints and engender economic development in their host communities.
Speaking at the ground-breaking ceremony for the road project, Governor Obaseki said, “the benefits of attracting and encouraging more investments in the state is evident in the huge gains Presco Plc has undertaken today in Orhionmwon.”
He noted that Presco Plc had approached the government that they wanted to take over and construct the Ugo-Evboesi section of the road with their tax credit and the government graciously granted approval given the importance of the road to the oil palm development projects in the area.
He encouraged other investors to follow suit and urged host communities to embrace economic development by cooperating with investors which will spur economic growth in their domains.
Chairman, Orhionmwon Local Government Area, Hon. Newman Ugiagbe, thanked the Governor for the huge investments he has attracted to the locality, promising to ensure the sustenance of the growth trajectory by supporting the government in its endeavours.
The 4.30KM road construction project, which is expected to be completed in three months, is being handled by Raycon & Co. Nigeria Limited.
The construction of the Benin-Abraka Road is expected to improve connectivity, facilitate trade, and enhance the quality of life for residents in Orhionmwon local council and surrounding areas.
