WACOT announces multi-million dollar investment in Kebbi

The West African Cotton Company (WACOT), on Friday, announced its latest plan to invest fresh capital into projects in Kebbi. This is coming after the firm received the applause of stakeholders for its contribution to the socio-economic progress of the state and the nation of Nigeria as a whole. 

The latest project is the second phase of the mega rice mill at Argungu, the same location where the first phase was established five years ago.

This project will see an investment of capital running into millions of dollars. It would be used to upgrade the current capacity of 120,000 metric tonnes by 100% to 240,000 metric tonnes. This would make it the largest on the continent.

The Chairman of the firm, Alhaji Farouk Gumel revealed these facts about the project during a visit by the Kebbi State Governor, Senator Abubakar Atiku Bagudu, and the Managing Director of First Bank Nig Plc, Dr. Adeshola Adedotun to the company.

The chairman also announced that the funding for this new rice mill project has been released by First Bank. He called the lender “an active partner” adding that the project is “beneficial to us, Kebbi and Nigeria .”