The rice processing mill will be built on 32,000 hectares of land in Imota, Ikorodu area of the state.
According to the governor, the rice mill will be built on 32,000 hectares of land in Imota, Ikorodu area of the state.
While hailing the agreement as a great feat for the state, Ambode said it fulfills part of his administration's economic agenda of diversifying the economy.
He said, "The state of the art rice mill will be sited in Imota, Ikorodu and it requires 32,000 hectares of land for cultivation of rice paddy. This investment is expected to create thousands of jobs in rice value chain.
"In addition to the current arrangement with Kebbi State, Lagos would go into partnership with neighboring states, to ensure sustainable inputs for the mill and foster regional economic integration"
The Swiss group is a global market leader in rice processing and its partnership with the Lagos state government is projected to facilitate the creation of about 200,000 jobs across the agriculture value chain in the state.
Governor Ambode led a delegation of the State Executive Committee members to sign an agreement in Switzerland on Friday.
The delegation included: Commissioner for Finance, Mr Akinyemi Ashade; Special Adviser to the Governor on Overseas Affairs and Investment, Professor Ademola Abass; Commissioner for Agriculture, Hon. Suarau Oluwatoyin; and the Permanent Secretary in the Ministry of Agriculture, Dr. Olayiwole Onasanya.