Admin l Monday, January 16, 2017
LAGOS, Nigeria – The Dangote Group of Companies has gone into a partnership with SINOTRUCK to set up a $100million truck assembly plant in Lagos.
In a statement, Chief Corporate Communications Officer, Mr Anthony Chiejina said the Dangote Group will cite the plant in Ikeja and that it has the capacity to produce 10,000 trucks annually.
According to him, Dangote had been spending heavily on importing trucks to distribute its products both locally and across African countries.
Chiejina said the conglomerate owned 60 per cent stake in the assembly plant while SINOTRUK holds 40 per cent and that the partnership that was formed in 2014.
He said the plant is expected to create 3,000 direct employments when fully operational.
Nigeria is a major market for SINOTRUK products, with Dangote Group, operating the largest fleet in Africa, having over 10,000 trucks for the distribution of its products across the continent.
Chiejina said the new company would save Nigeria huge foreign exchange being spent on importation of heavy duty vehicles.
According to him, there will be room for project expansion in future as it meets the national truck demand and will explore exportation to neighbouring countries to generate foreign exchange for the nation. Chiejina said Aliko Dangote believed that the current economic challenges would make Nigeria stronger if approached positively.
“Alhaji Aliko still believes that Nigeria is one of the best places in the world to do business,’’ he said.
