Waltersmith partners UNIDO and UNECA to establish industrial park in Ibigwe, Imo State

Waltersmith, UNIDO and UNECA have signed a technical support agreement with respect to the development of an Industrial Park by Waltersmith, the first of its kind in Nigeria which will attract petrochemical, pharmaceutical, research and other light manufacturing companies that feed off the hydrocarbon value chain.

The industrial park is being developed with the support of the United Nation Industrial Development Organization and United Nations Economic Commission for Africa as part of Nigeria’s country program with the Ministry of Industry, Trade and Investment.

“This signing ceremony essentially flags off the industrial park development and we are excited about the technical support UNIDO and UNECA are willing to provide to Waltersmith as this will help us attract several companies to the park area. Our goal is to create an industrial cluster in Ibigwe and help reduce manufacturing costs, position the South-Eastern region as a major manufacturing hub and take advantage of the African Continental Free Trade Agreement which the Nigerian Government has currently signed on,” said Abdulrazaq Isa, Chairman Waltersmith Group.

Only recently the first phase of the 5,000 barrels per day refinery that the oil company is developing was commissioned and is expected to deliver about 271 million litres of refined petroleum products into the domestic and regional market consisting of Heavy Fuel Oil, Dual Purpose Kerosene and Automotive Gas Oil.