Finally Ekiti Clay company resumes operation after 17 yrs

Ire Clay Products Limited has returned to production 17
years after the company was shut due to major
technical problems.
The Managing Director of the Company, Mr. Biodun
Adedeji, told journalists that about N815 million was
spent to resuscitate the company now worth N1.05
billion due to valuation on land and building of old Ondo
State Bricks Work Limited.
According to him, the plant, when fully become
operational on July 1, would focus on five products:
Decking pot, hollow block, faces lift, partitioning blocks
and sun breakers.
“It will reduce construction cost by 60 percent. The
plant is the most modern brick plant in Nigeria and
West-African sub-region and can compete with any of
its peer globally.
“At present, the company has engaged over 100 youths
mostly graduates in mechanical, electrical and other
disciplines to work with the expatriates,” he said.
Adedeji recalled that efforts to revive the company-
jointly owned by Ekiti State Government (70%) and
Odu’a Investment Company Limited (30%) began in
2008 by former Governor Segun Oni’s administration
who committed N90 million out of the required N400
million.
He added that his successor, Kayode Fayemi, on
assumption of office contributed N351 million while the
joint partner contributed N140 million after the initial
N30 million because of increase in cost of equipment.
He gave his assurance that the company would
produce 20 million units of bricks per annum, and
create over 200 direct and indirect jobs.