Abia State Government has finalised the acquisition of Afro Beverages from the Asset Management Corporation of Nigeria (AMCON), marking another step in its industrial revival agenda.
Governor Alex Otti disclosed the development on Friday during the February edition of his monthly media parley at the Government House in Umuahia.
Afro Beverages is among five moribund industries identified by the administration for revival as part of efforts to boost manufacturing output and create jobs in the state.
Speaking at the briefing, Otti said the government had concluded the acquisition process and was already engaging potential investors.
“The State Government has completed the acquisition of Afro Beverages from Asset Management Corporation of Nigeria and begun receiving expressions of interest from prospective investors.
“Similar investor interest is being recorded for Star Paper Mill in Owerrinta, because we prefer competent private sector operators to manage the firms sustainably,” he said.
According to the governor, the objective is to restore full industrial operations, generate employment and ensure that the companies remain viable under professional management.
