Nigeria: Chinese Companies to Build Plants in Ogun

Two giant Chinese companies are concluding arrangements to set up aluminium and ceramic factories in Ogun State.

The companies, New Zhongyuan Ceramics Ltd and Asia Aluminium Company Ltd, have indicated interest to build and operate manufacturing plants at Ogun-Gwangdong Free Trade Zone in Igbesa.

A statement issued by Mr Adegbenro Adebanjo, Senior Special Assistant to the Governor on Special Economic Projects and New Investments, a copy of which was given to NAN, stated these yesterday in Abeokuta.

It added that the outfits indicated interest to build and operate the plants in Igbesa, when a delegation of entrepreneurs from the Guangdong Province of China visited Ogun State.

The Province, which is jointly promoting and developing the Ogun-Guangdong Free Trade Zone, OGFTZ, in Igbesa was led by a Deputy Director, Deng Yaohua.

Yaohua had told the people, which included Gov. Gbenga Daniel, his economic Adviser, Yosola Akinbi, members of the Ogun State Executive Council and other stakeholders that the government of the Province asked him to join the delegation to underscore the importance it attached to its relationship with Ogun.

He said that members of the delegation had interests in aluminium production, furniture, power plant, electronics and ceramics manufacturing and general construction.

Yaohua said that with the backing of the Chinese government and commitment of top financial institutions the stage was set for the setting up of different manufacturing plants in the OGFTZ.

He said the Province and the entrepreneurs would use the potential of Ogun State to move into Nigeria and the rest of Africa.

Another member of the delegation, Sun Jianziong of the China Africa Investment Company, commended Daniel for the steady progress of the Ogun-Gwangdong Free Trade Zone.

He said that a target of three years had been set for the zone to be fully operational.

According to him, Chinese investors and entrepreneurs had shown tremendous enthusiasm to come to Igbesa assuring that about 50,000 jobs would be created in the next few years.

Receiving the delegation, Daniel said the ongoing development of the zone was in line with his administration's vision of creating a diversified economy, promote local industries and generally create prosperity for the people.

He said that the coming of the Chinese entrepreneurs and manufacturers would open up the states economy, boost its internally generated revenue, create job for the people and help the development of local entrepreneurs who should develop support industries.

He assured the delegation that his government would continue to support all genuine entrepreneurs who were interested in joining the growing number of investors in Ogun.

The Ogun-Guangdong Free Trade Zone is one of the eight overseas economic and trade cooperation zones approved by the Ministry of Commerce of China. (NAN)

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