Date: 2012-03-21

Five project sites have been selected for the Kwara rice project, following the completion of the soil, water tests and  topographical studies conducted by Valsolar Consortium.  The locations, according to a phased implementation programme released by the Kwara State government in Ilorin, include Shonga, Patigi, Lafiagi, Bacita and Share.

Valsolar, a Spanish company signed a N70 billion rice joint venture with the Kwara State government in January. The statement further stated that the rice project would be cultivated on 20, 000 hectares of land, adding that the Spanish farmers would cultivate 5,000 hectares of land in each location yearly over a period of four years.

The government added that the processing factory which would also serve as storage and distribution location, is to be sited in Share.  According to the agreement, Valsolar is expected to invest N70 billion in the project over a period of four years while the state government is to make available 20, 000 hectares of land.  The Spanish company will also hold 70 per cent equity in the company while the remaining 30 per cent will be held by the state government.