The Kano second Economic and Investment Summit has ended with 10 companies signing Memorandum of Understandings (MoU) with the state government for investment in various economic and business subsectors in the state, Daily Trust reports.

The companies include Brains & Hammers, Milestone International, Arewa Solar PV Synergy; Black Rhino & Dangote; Broad base Nig ltd; Eighteen Engineering Company (EEC); Multi Vission Nig ltd; Shara Dukiya Nig ltd; Dangote Rice and Qingduo Solar Energy. Three out of the 10 companies, Arewa Solar PV Synergy, Black Rhino and Qingduo entered into agreements with the state government to each construct a 100 megawatts solar energy power plant.

Arewa solar would construct the plant at the cost of $150m with the state government providing 13 per cent, Black Rhino’s project to be located in Gabasawa local government would also commit $150m dollars but Kano state would contribute 20 per cent of the total sum of the contract, as well as land and other facilities. The third company, Qingduo would invest $120m and would finance the project 100 per cent.