AFRICANGLOBE – A Chinese trade delegation led by the Deputy Mayor of Chang Chun City, China, Gui Guangli has expressed intent to establish a truck manufacturing plant at the Calabar Free Trade Zone (CFTZ), Nigeria.
Guangli revealed this during a courtesy call to Governor Liyel Imoke of Cross River State. He said the team had spent two days in the state exploring possible areas of investments and having found that there are great opportunities, it decided to start with the establishment of a truck plant.
The visit was as a result of collaboration between the state government and the zone to bring investments into the state, General Manager of the Calabar FTZ, Sadiq Kassim, said.
Kassim explained that Chang Chun City, which has a population of over seven million and wants to invest in Nigeria through its chambers of commerce.
Aside building a truck manufacturing company, the Deputy Mayor revealed that the trade mission also have the intention of investing in agriculture and pharmaceutical sectors, noting that China and Nigeria have an age long commerce relationship.
Explaining the rationale behind the investment, Guangli stated that from the study carried out by the manufacturing company, the state (Cross River) is conducive for investments couple with the airport, seaport and free trade zone.
He added that the company which already has eleven outlets across the world including Japan, Germany and the United States will produce trucks that will be of high technology and high class.
The Deputy Mayor however said that volume of production will be determined by the economic indices of demand.
Speaking on the proposed investment, the state Governor, Liyel Imoke, praised the Chinese Trade Mission adding that the move will strengthen and develop the state’s economy.
Cross Rivers state is on one of Nigeria’s oil producing states. The establishment of a truck manufacturing plant would help divest concentration on the oil production which is the mainstay of the country’s economy.
By: Oluwabusayo Sotunde