June 07, (THEWILL) – The Benue Investment and Property Company Limited (BIPC) is targeting to acquire about 200 units of tractors in the first phase of its partnership with Farmatrac Agro Solutions.
This is just as Farmatrac has pledged to build an assembling plant in the state, to ease cases of spare parts.
The Management of BIPC company disclosed this on Thursday, during a meeting with representatives of Farmatrac Agro Solutions, at the board room of the company’s headquarters in Makurdi.
Managing Director of BIPC, Dr Asemakaha, stated that the partnership aligns perfectly with BIPC’s mission and Governor Hyacinth Iormem Alia’s policy to drive industrial and economic development in Benue State.
“BIPC stands to benefit from this partnership by establishing a tractor rental/hiring centre to serve local farmers and becoming the exclusive distributor of Farmatrac spare parts in the whole of north central thereby generating revenue through the sale and maintenance of the tractors.”
In a presentation, the Head, West Africa partner, Mr Godfrey Ajayi, who led other members of his team, outlined an ambitious plan by Farmatrac to establish a presence in Africa and Benue in particular with the aim of acquiring tractors and equipment from Denmark to Benue, Setting up a tractor assembling plant and training Benue youths as mechanics to provide ongoing maintenance and support for the tractors.
In a Zoom presentation, the Managing Director and CEO of Farmatrac Agro Solutions, Vincent Chand, stated that this partnership represents an exciting opportunity for Farmatrac to bring high-quality, affordable farming mechanisation to West Africa and that he is happy that Benue State through BIPC will be the first to key into this partnership.
According to him, Farmatrac mission is to help increase agricultural productivity and support the livelihoods of small holder farmers in West Africa.
A technical team was immediately constituted by the Managing Director to work out all necessary modalities for an MOU as both parties expressed optimism about the venture’s potential returns on investment.
