Specifically, Heritage Bank availed SCOA
Motors an Advance Payment Guarantee (APG) N4.64 billion for the project.
Whilst, other banks – Zenith, Wema, UBA,
Union, Unity, Coronation and Providus Banks complemented the global total sum.
According to the statement endorsed by Ozena
Utulu, Acting. Group Head, Corporate Communications saying The sum total covers
for 33 trucks and technological equipment. For the first phase during the
ceremony, 16 of the trucks were handed over to Julius Berger and the second
phase of delivering will be executed next month.
Commenting on the Official Handover Ceremony of State-of-the-Art Man Trucks and Wirtgen Equipment to Julius Berger Nigeria Plc, the MD/CEO of Heritage Bank Plc, Ifie Sekibo stated that the support efforts through project financing in the various sectors of the economy is one of the platforms that underscores our resolve and readiness to make a mark in the financial sector as a major pivot of socio-economic transformation of the country.
The Regional Head, Lagos Mainland Zone of
Heritage Bank, Mother Dan-Egwu, who represented Sekibo, said the bank partnered
to support SCOA Nigeria Plc for its long and outstanding presence in the
automobile market, by retaining the cutting edge in their line of business.
Dan-Egwu disclosed that the Heritage Bank’s
philosophy is to support businesses to grow in their discharge of duties; she
was quoted as saying, “For us at Heritage Bank, our core business philosophy as
a timeless wealth partner to our customers is captured in our mission to
create, transfer and preserve wealth.”
Earlier in his address, the GMD/CEO of SCOA,
Dr. Massad Boulos commended Heritage Bank and the other banks’ roles, as the
transactions were made possible through their solid partnership.
“I will also thank Heritage bank, their
Directors, MD; Unity Bank and other senior bankers official & the entire
team of banks, they’ve worked closely together with us on this project, same
with Providus Bank, they all have worked together tirelessly for the success of
this project,” he said.
According to him, this partnership is like no
other considering the parties involved especially SCOA Motors and Julius Berger
in the official hand over of state of the art modern trucks for use on the road
constructions’ equipment for the execution of the biggest and the most
significant project in Nigeria; the Abuja/Kaduna/Kano express way.
SCOA Motors Plc has been operating in the
Nigeria Market since 1922. The company has over the years expanded from
Automobiles to other lucrative ventures such as importation and assembling of
Vehicles and Generating plants, Agriculture /Food processing.
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