Vice President Yemi Osinbajo will today commission the Second Phase Expansion Project and lay the Foundation Stone of the Third Phase Expansion Project of the Beloxxi Industries Limited, Agbara, Ogun State.
A statement by the President/CEO of Beloxxi, Obi Ezeude, indicated that the mega project by the company will be the second and third phases of the mega biscuits plant that started some 14 years ago.
Ezeude is The Sun Manufacturer of the Year 2017 award winner whose investiture would hold on February 24.
In September 2010, President Goodluck Jonathan had commissioned the mega factory in Agbara after it moved from Ikeja Lagos where it operated a single production line to the four production lines in Agbara.
Few years after, the factory with a workforce of 2500 added two production lines. And today, the expansion would be additional four production lines that bring the facility to a total of 10, with target employment volume of 6000 workers by the end of the phase.
Beloxxi, a purely indigenous biscuit manufacturing plant with specialty in cream crackers, is a project of necessity that arose when the Federal Government banned biscuits import in 2003.
On August 1, 2016, Beloxxi became a public quoted firm with minority shareholding of $80million sold to prime German and European investment bank, KFW-DEG, the 4Miles of London and the African Capital Alliance of Nigeria.
This landmark transaction represents the largest transaction in the biscuit sector of the Nigerian economy.
Ezeude stated: “This commissioning today will enable the company to increase the capacity of output from about 40,000 to 100,000 metric tonnes of cream crackers per annum, while the staff strength will grow from 2500 to 6000 at the end of the expansion period, and with expansion from the current six production lines to 10.