Chinese Firm to Invest $30m in Nigeria

A leading manufacturer in ports equipment, SANY Group Incorporated has disclosed its intention to invest between $20 million to $30 million in Nigeria’s automobile industry.

The North and West Africa Manager of the group, Mr. Li Lei disclosed this at the Nigerian International Maritime Ports and Terminal (NIMPORT) business meeting.

The event, held in Lagos was tagged, “Improving Ports Operational Efficiency.”

Lei said the investment would also lead to providing jobs for about 800 Nigerians.

According to him, the company needed to identify local partners in other to set up the million dollar investment in Nigeria.

“We have to invest up to $20 million to $30 million in Nigeria. We need to have local partners first. We need support from government; with this we can create job opportunities of between 500 and 800 for Nigerians,” he said.

Lei also stated that the company, as a leading Port equipment manufacturer in China is ready to penetrate into Nigeria’s Ports machinery market.

He said: “In the last 10 years, we have been producing heavy equipment for ports operations in China and in the Port machinery sector in China. We have maintained the number one position and have been controlling 50percent market for the past five years

“We are not doing very well in Nigeria, we want to promote the Sany brand. Our other equipment are doing well so we didn’t have enough time and focus on this sector. ”

Speaking at the event, the Managing Director of the Nigerian Ports Authority (NPA), Ms Hadiza Bala Usman said the Nigerian ports must lead in modernisation of equipment and infrastructure in Africa.

Usman, who was represented by the General Manager, Public Affairs, Chief Michael Ajayi said as the leading port in Africa, the federal government through the NPA had continually made efforts to reposition the Nigerian ports in line with global trend in shipping and Ports operations.