About 1,450 jobs are expected to be created when the N5bn Eastern Vehicle Assembling limited ultra-modern automobile manufacturing/assembling plant in Enugu becomes fully operational, Managing Director, Keystone Bank Limited, Mr. Philip Ikeazor has said.
He disclosed this during the unveiling of the stone laying ceremony of the Eastern Vehicles Assembling Limited (EVAL) plant in Egede in Udi local government Area of Enugu state last weekend.
Mr. Hafiz Bakare, Executive Director, Keystone Bank, who represented Ikeazor, said the lender in partnership with EVAL would provide employment for the teeming unemployed Nigerian youths.
“This is a project we believe will create job opportunities for our teeming youths both directly and indirectly through expected increase in productivity of the feeder steel industry across the country. We know how much this government places emphasis on job creation and gainful employment.”
The EVAL is financed by keystone bank under the Central Bank of Nigeria (CBN) real sector support fund in partnership with Hawtai motors, China.
Speaking at the occasion, President Muhammadu Buhari stated that the major reasons the Federal Government banned importation of vehicles through land borders was to encourage Nigerians to patronize locally assembled vehicles, create jobs and move the nation’s economy forward.
President Buhari, who was represented by his Senior Special Adviser on Legal and Electoral Matters, Barr. Juliet Ibekaku, commended the commitment of Eastern Vehicle Assembly Limited to key into the economic development agenda of this administration by building a vehicle manufacturing assembling plant in Nigeria.
In his speech, Governor Ifeanyi Ugwuanyi of Enugu State said the establishment of Eastern Vehicle Assembling Limited in the state is part of plans by both Federal and Enugu state governments to drive investments into the country.
Ugwuanyi who was represented by his Commissioner for Commerce and Industry, Barr. Sam Ogbu, said the plant was yet another step to encourage both local and foreign investment in the state.
He commended the Managing Director of EVAL, Mr. Joseph Okechukwu for the courage and will to boost industrial base and provide employment for the people of the state.
Also, Governor Okezie Ikpeazu of Abia State, represented by his deputy, Sir Udeh Oko Chukwu, said his government would ensure the sustainability of EVAL vehicles by using it as its official cars in the State.
Earlier in his speech, the Managing Director of Eastern Vehicle Assembling Limited, Mr. Joseph Okechukwu said the coming of EVAL was in response to the clarion call of the federal government and south- east states to open up investments and woo foreign investors for the industrialization of the country.