SANY, a Chinese manufacturer of heavy industrial machines has said that it is currently seeking a local content investment partner to establish its equipment manufacturing and production centre in Nigeria.
The company, which specialises in the manufacturing of heavy industrial equipment that include construction and mining equipment, port and oil drilling machinery as well as renewable wind-energy systems, says its ready to invest at least 20 to $30 million to set up new production centre in Nigeria.
“We are looking for a local partner in Nigeria to proceed with this project. We have to invest at least 20 to $30 million to create about 800 initial job opportunities for Nigerians. Apart from job creation, we also want to bring the technological know-how in building of heavy industrial equipment to Nigeria,” said Lei Li, company representative in charge of SANY North Africa business unit including West and East Africa regions, in an interview with BusinessDay on the sideline of post NIMPORT seminar in Lagos.
According to him, funding would not be an issue as China has specialised investment funds waiting for such projects. “When the project between SANY and ‘company A’ in Nigeria begins, Chinese financial institutions like the Chinese African Fund (CAF) and the Chinese Africa Production and Corporation Fund (CAPCF), have billions of dollars worth of investment capitals waiting for investment projects like the one SANY is bringing to Nigeria.”
Li, who described Nigeria as the biggest economy and market in Africa given its 190 million populations, said that SANY wants to expand its business to West African region with Nigeria serving as its headquarter. Li, who further stated that SANY, which has production lines outside China in Germany, Brazil, India and America, added that the company has no production centre in the whole of Africa.
“If we have strong local partner, we plan to reach out to the local market in Nigeria and another strong desire to reach out to other neigbouring countries in West Africa. We want to set up in Nigeria because it has the political and economic strength to influence other countries in the region. For SANY, investment capital is not going to be a hindrance but our only worry is whether we will get the desired support from the government in term of tax and duty exemptions and concession. It is very important that we have a good Nigerian partner in this field to support us,” he explained.
Huang Jiale, Lagos commercial consul of the Consulate General of the People’s Republic of China, who stated that China and Nigeria have had years long business relationship, has called Nigerians to support the company’s business aspiration, describing SANY as a big manufacturer of heavy industrial equipment that is willing and ready to invest in Nigeria.
Fortune Idu, convener of NIMPORT, also disclosed that SANY is also looking for nationwide distributor of their equipment; saying said that the company is open for new partnership with Nigerian company to expand its market share in Nigeria.
AMAKA ANAGOR-EWUZIE
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
