A foremost investment company, Platform Capital has announced the ground-breaking ceremony of its Leather City Park (“Leather City”) and NIBRA Designs Limited (“NIBRA”) – a shoe production initiative in Ariara market, Aba, Abia state.
The shoe factory will be the largest in sub-Saharan Africa, leveraging world class Brazilian technology.
The NIBRA says the facility will be with an initial capacity of 10,000 pairs a day, growing to 100,000 in 5 years.
“The project is scheduled to be commissioned by the fourth quarter of 2019 and NIBRA will employ 1,000 people for a start growing to over 5,000 in the medium term,” it said in a statement.
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“Under secured off-take arrangements for 100% of our initial installed capacity, we will serve domestic and international markets. Leather City on the other hand, will provide opportunities to increase productivity and product quality for a significant number of the 120,000 individuals currently in Ariara market.
“For private enterprises and SMEs, Leather City will offer infrastructure as a shared service and skills development training to the growing population of Nigerian entrepreneurs in the leather and related goods space.”
The statement said this will form part of a broader strategy to leverage the national leather policy of the federal government.
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“We at Platform view this as a transformational initiative for the state of Abia, the entire South-East region and is a testament to Nigeria’s tested entrepreneurial spirit,” the statement read.
The company expressed appreciation to Okezie Ikpeazu, governor of Abia, NIBRA’s chairperson, Wura Abiola; the MD of Abia state PPP, Austin Ufomba; and the Nigeria Export Import Bank as a key stakeholder.
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