The Shangai Green Building System Company Limited, China has signed a Memorandum of Understanding (MOU) with Air and Marine Services Limited, promoters of Kidney Island Energy Free Trade Zone project in Port Harcourt, Nigeria.
The MOU covered tourism, civil construction, oil and gas, estate development, marine transportation, infrastructure and Pharmaceuticals.
Speaking to newsmen at the Nigerian Investment Promotion Commission (NIPC) Abuja, the Managing Director of Air and Marine Services Limited Mr Francis Nnam said that the MOU was signed during a business and investment interactive session held in Shanghai Nanjing and Qingdao recently.
He also disclosed that under the MOU, Shangai Green Building System Company Limited will construct over 10, 000 housing units in different states of the federation especially in Abuja, Lagos and Port Harcourt where there have been need for housing because of the population boom in the areas.
He said that the housing construction is to alleviate the accommodation problems as the Minister of Housing Ms Amma Pepple recently disclosed that Nigeria has 16 million housing deficit, adding that with the initiative, the housing problem will be reduced to a manageable level.
He called on Nigerian Banks and other entrepreneurs other investors in the key areas to get in touch with the NIPC with a view to keying into the massive wealth creation, employment opportunities, transfer of technology which the Chinese business and investment forum has offered.
He expressed appreciation to the Executive Secretary NIPC Engr Mustafa Bello, the Nigerian Embassy in China and the Chinese Embassy in Nigeria for making the forum a reality and very fruitful.