Following its announcement last year that it intends to invest $1 billion in Nigeria, General Electric (GE) has scheduled the groundbreaking for its $250 million manufacturing and assembly plant for Tuesday in Calabar.
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The ceremony will be performed by Vice President Namadi Sambo.
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When completed in the next three years, the facility will be the biggest in Africa and will have an additional operating expenditure of about $1 billion in the next ten years.
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Besides, it intends to make Calabar the hub of its manufacturing activities in sub-Saharan Africa.
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Expectedly, Calabar is agog with various activities just as economists have been listing the impacts GE's arrival will have on the economy of Cross River State in particular and Nigeria as a whole.