A new joint venture entity, Sunshine Joint Venture Infrastructure Limited, has been formally incorporated to spearhead the development of the proposed Refinery and Free Trade Zone projects in Ondo State.
In a statement released on Thursday, the joint partners said the establishment of the company marks a major step toward the execution of the two flagship projects being undertaken in partnership with the Ondo State Government. They described the incorporation as a demonstration of their “sincerity of purpose and total commitment” to advancing the projects collectively.
According to the statement issued by Wale Adekola on behalf of the joint venture, the newly formed company will serve as the official vehicle for implementing the signed Memoranda of Understanding (MoUs) through the Ondo State Investment Promotion Agency (ONDIPA).
It added that representatives of the joint venture met recently in Dubai to finalise funding arrangements and prepare for the commencement of preliminary activities, including groundbreaking preparations and community engagement plans. These activities, the partners said, are expected to align with the celebration of Ondo State’s 50th anniversary and the first anniversary of Governor Lucky Orimisan Aiyedatiwa’s election.
Participants at the Dubai meeting included key JV figures such as Salehi Farhad, Zaheri Navid, Eghbal Kordjamshidi, Saheed Zaheri, Dr. Stephen Dike, Henry Owonka and Maryam Namvar.
The statement further noted that arrangements have been concluded to mobilize contractors who will work with local communities to establish project support facilities, including an information centre, architectural model displays and operational structures. These preparations will be carried out in collaboration with ONDIPA to ensure smooth relocation plans for host communities and promote peaceful coexistence.
Sunshine Joint Venture Infrastructure Limited reaffirmed its commitment to working closely with the Ondo State Government to transform the state’s infrastructure landscape for shared economic benefit.
