• Saturday, March 02, 2024
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BusinessDay

KIA plans new assembly plant for Nigeria

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Dana Motors Limited, the sole distributors of KIA Motors in Nigeria, has signed an agreement with Kia Motors Corporation (KMC) South Korea to set up an assembly plant in Nigeria.

Dana Motors, in showing its commitment to the development of the Auto Policy in Nigeria had identified that the Policy it will only be possible with a well equipped world class facility, in which KIA Motors Corporation (KMC) will provide the technical know-how for plant, machinery and assembly of the vehicles, restructuring its existing short term obligation to align with investment done in long term assets.

The Auto Policy forms part of the agenda of President Goodluck Jonathan’s Nigeria Industrial Revolution Plan and the National Enterprise Development programme. The President’s plan is commendable and fully supported by Dana Motors and KIA, as it is setting the stage for a new era of industrial, Micro, Small and Medium Enterprises development in the country intended to transform the nation’s industrial landscape, leading to an increase in

skills development, job creation and conserve foreign exchange.

The Auto Policy, which has been promoted by the Ministry of trade and investment under the leadership of Olusegun Aganga, will accordingly fast-track industrialisation, accelerate inclusive economic growth, transform Nigeria’s business environment stopping the drain foreign reserves by importing and start production and assembly locally.

Dana management team led by Jacky Hathiramani (MD/CEO) and Homer Kim, KMC official leading the delegation of officials from South Korea, were present at the ceremony to sign the document in the presence of Luqman Mamudu, director of policy and planning for the National Automotive Council (NAC) representing the DG.

The Director NAC commended Dana Motors for taking a bold step to establish a Motor vehicle assembly plant which will create significant good quality employment and a wide range of technologically advanced manufacturing opportunities.

Dana Motors CEO in his response, said that Dana Motors aims to set an example for others to follow, with state of the art systems, technology and logistics applied to the assembly plant. He further communicated that the project has been planned to have minimal adverse effect on the health and safety of the workers.

“Dana Motors aims to surpass customers expectations and with the growing population of KIA cars across Nigeria there is a need to better support for maintenance by upgrading facility and investing in people thereby creating jobs, increasing skills and ultimately producing cost effective vehicles and also to promote the development of the automobile sector and drive the components parts requirement of international standard at competitive prices,” concluded Hathiramani.

By:  Mike Ochonma