The Oyo State Government has signed a Memorandum of Understanding (MoU) with a United Kingdom (UK) milk producing company, Kama Milk Industry, for the production of Soya milk.
The establishment of the company will cost N4 billion.
The company is expected to produce about 750,000 metric tons of soya milk annually and provide 100,000 jobs when it becomes operational.
At the signing of the MoU in his office in Ibadan, the state capital, Governor Abiola Ajimobi said the company’s decision to invest in Oyo was the product of his many foreign trips.
He said: “The MoU is one of the products of our promotion. We are now having a company involved in the large manufacturing of Soya milk, which will be the second largest in Africa.”
Assuring the firm’s management of an enabling environment, Ajimobi said: “We are ready to partner you and provide an enabling environment for you to succeed.”
He said the company would be provided with 25 hectares of land for the production of soya beans for animal feeds.
The governor said apart from the land being provided at the Industrial Park on the Lagos-Ibadan Expressway, the company would also be given a large farmland in Oke-Ogun, which would serve as a feeder.
He urged the management to ensure that the company begins operation within three months.
Ajimobi said: “I expect that in the next three months, we will be able to turn the sod in Oyo State and have that factory. I will like to open the factory by September next year.”
The Managing Director of Kama Milk Industry, Mr. Dipak Mirchandani, assured the governor that the company would boost the state’s economy.