BREAKING: Enugu State Govt, Jelfah Group, Sign N40bn Deal to Revitalise Moribund Sunrise Mills
… As Jelfah invests N24bn, as Enugu divests 60 per cent equity stake Enugu State Government and Jelfah Nigeria Ltd have signed a N40bn deal for the revitalisation of the long-moribund and state-owned Sunrise Flour Mills, Enugu. The deal, which was signed at the Government House, Enugu, Tuesday, saw Jelfah acquire 60 per cent equity stake in Sunrise Flour Mills and is expected to invest N24bn in the iconic mills, which went moribund since 1985, just two years after it was commissioned in 1983, while the state government keeps 40 per cent based on the existing assets of the company. Speaking at the brief signing ceremony and public announcement of the transaction, Mbah said this milestone, coming on the heels of the N100bn deal to resuscitate the hitherto dying Enugu United Palm Products Limited, UPPL, were clear demonstrations of his administration’s determination to grow the state’s economy from $4.4bn to $30bn through private sector investment. “Just a few months ago, we secured an i