Nigerian business mogul Cosmas Maduka, one of Nigeria’s most successful businessmen, has built a rice processing mill in Anambra, a state in Nigeria’s southeastern region, at a reported cost of $35 million.

According to a report by ThisDay, the rice mill which was constructed by Coscharis Farms, a subsidiary of the Cosharis Group which Maduka controls, was officially launched at a ceremony in Anambra attended by Nigeria’s Central Bank Governor, Godwin Emefiele and various Nigerian state governors.

The first phase of the rice mill which has a milling capacity of 40,000 MT per annum was launched on Tuesday, but the entire project is expected to have an annual milling capacity of 120,000 MT when completed by the end of 2020 according to a press statement by Maduka.



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