The concessionaire has been granted management rights over the state-owned plants.
The decision will create more job opportunities for people in the state, state governor Bassey Out was cited as saying by domestic media reports.
Nigeria’s Cross River State government recently signed a 20-year concession agreement handing over several state-owned businesses, including a garment factory and a sack-bag factory, to the Jampur Group, an Indian company.
The concessionaire has been granted management rights over the state-owned plants.
The concession terms have been structured under a PPP arrangement.
The handover ceremony was organised at the Ayade Industrial Park Calabar.
The concession terms have been structured under a public-private partnership (PPP) arrangement to keep the factories operational and profitable over the next two decades.
Fibre2Fashion News Desk (DS)
