Article Highlights
1. Honeywell Flour Mills Plc says it has invested about N1billion to modify its mills for increased cassava flour inclusion, Managing Director/CEO of the company, Mr. Lanre Jaiyeola, has said.
2. He also urged the federal government to provide palliatives to encourage increased investment in cassava growing, processing and utilisation.
3. Jaiyeola also revealed that as part of the company’s strategy to scale up its production capacity, civil works has commenced on its 63-hectres land in Sagamu, Ogun State in preparation for the construction of the factory buildings.
4. He confirmed that the project is on course for completion and would start commercial production within the next 24 months. “This is expected to notch up the company’s top and bottom line to provide better returns to our shareholders”, he said.
5. The company recently announced plans to invest over $1 billion in the execution of power generation and transmission projects in Lagos, Ogun and Bayelsa. Already, the Nigerian Electricity Regulatory Commission (NERC) has issued the company with the licence to build a plant in Akute Oshun in Ogun State.
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