THE GOVERNMENT OF KADUNA STATE
KADUNA INVESTMENT PROMOTION AGENCY (KADIPA)
INVITATION FOR EXPRESSION OF INTEREST (EOI) FOR THE ACQUISITION OF KADUNA STATE GOVERNMENT SHARES IN MAKARFI SUGAR INDUSTRIES LIMITED

1.0 BACKGROUND
1.1 Further to the ongoing restructuring and divestiture of Kaduna State Government (KDSG) owned commercial assets by the Kaduna Investment Promotion Agency (KADIPA), the shares held by KDSG in Markarfi Sugar Industries Limited are offered for sale to persons knowledgeable and experienced in the manufacturing sector, particularly within the sugar value chain.
1.2 This notice is not a prospectus or an offered for sale to the public of securities.
1.3 Markafi Sugar Company was incorporated in 1991 with the aim of establishing a sugar processing plant which was commissioned in 2006 with an output level of 80 Tons Crush per day, but commercial operations are yet to commence till date.
1.4 The purpose of the EOI is to get a competent core investor to acquire the 93% shares held by KDSG and:
a) To inject capital to enhance the efficiency of sugar crushing, processing, and recovery.
b) Purchase, install, and commission an additional modern plant in order to achieve the output level of at least 350 tons crush per day.
c) Make adequate and sustainable arrangements for the sourcing and supply of the main raw materials