South African equity investor, Simang Group is set to partner the Federal Government and the government of Enugu state to revive the coal industry in the State. The partnership is set to boost the economy of the South East geopolitical zone with increased power generation through coal powered plants.
Receiving the South African delegates, Enugu State Governor, Ifeanyi Ugwuanyi said “we have always been hopeful that coal will once again play a major role in the economic development of the country. It would generate employment for our people. It will enhance the growing profile of Enugu State.”
Chairman of Simang Group, Mr. Stephen Paddy, in his response, said the company was committed to facilitating “trade and investment, when there is need for Nigerians to use their natural resources to curtail the challenges that the country is facing to make sure that the economic development within the country is achieved.”
The revitalization of the coal industry which has been dormant for close to forty years is a positive development is expected to create jobs directly for miners and indirectly through allied businesses for millions of unemployed youths in the country.
It will also be a boost to Federal government efforts to diversify the economy and improve electricity generation through using coal as an alternative source of energy.
