On November 4th of 2022, ARISE Integrated Industrial Platforms (IIP) signed a binding development agreement with the Ogun State Government of Nigeria for Industrial Platform Remo (IPR) Limited, a world-class industrial zone in Ogun State. IPR is a public-private partnership between ARISE IIP and the Ogun State Government, dedicated to supporting the industrialization and economic development of Nigeria. The industrial ecosystem will be focusing on crucial sectors such as agro-processing, light industrials, pharmaceuticals and logistics.
Spread across over 5700 hectares in Sagamu area; approximately 50 kilometers from Lagos, IPR is scheduled to be operational 18 months after the construction start and will comprise industrial, commercial and residential zones, warehouse facilities, green & open spaces, inland container depot (ICD) and more. It is strategically situated next to major cities, seaports and airports, including an international cargo airport.
ARISE IIP will make a first-phase investment of USD $400 million in IPR Limited, and the project is expected to attract over USD $1 billion in foreign direct investment for phase 1. IPR is projected to create close to 15,000 direct and 25,000 indirect jobs, contributing significantly to the country's employment sector, as well as upskilling and expanding the competencies of Nigerian youth.
In line with the drive of ARISE IIP to foster Africa’s industrialization by attracting processors locally, IPR is poised to generate substantial impact through job creation, revenue generation, contribution to carbon emission reduction efforts, and local value addition, across several sectors.