The call by the present administration in Ondo State to promote industrialization through Public Private Partnership (PPP) has started to yield result following the ground breaking of BMG Automobile plant at Bolorunduro in Ondo East local government area of the state.

The State Governor, Dr Olusegun Mimiko, who performed the ground breaking ceremony along Ondo-Akure expressway, expressed optimism that the plant when completed would provide employment opportunity for the youth and also boost the economy of the state.

The governor assured prospective industrialists of his administration’s readiness to provide maximum support for their business to thrive, disclosing that the state government would have 10% equity in the BMG Automobile plant.

“What we are doing today is a landmark project that will boost the socio-economic landscape of our state.  Be rest assured that our government will do everything possible to support you, support others that are still coming” said the governor.

He added “I congratulate our people.  I can assure you that we shall give all the supports that will make this company survive so that the lives of our people can improve”.
Dr Mimiko, who was represented by the Commissioner for Commerce and Industry, Mr Akin Akingbesote, however urged the people of the State to take advantage of the numerous windows of opportunity to improve their businesses.   

In his speech, the chairman of BMG Automobile Plant, Dr Lanke Bademosi, disclosed that the plant when completed would gulp $300million, adding that about $100million would be expended before the end of this year.

He stated further that about 3,000 youths would be engaged and the Company’s operation would be carried out with 100% solar power.

According to him, 4 x 4 and 4 x 2 among other vehicles will be assembled at the plant.

Earlier in his address, the Head of Interim Committee of Ondo East local government, Mr Siji Akindiose noted that the project would reduce crime rate occasioned by joblessness and also enhance the economic profile of the local government.

 

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