The chairman of Dangote Industries Limited, Aliko Dangote, has revealed the real owners of his recently launched project, Dangote Sinotruk West Africa, a fully knocked down CKD truck assembly plant recently opened in Lagos.
As a joint venture with a total investment of over $100 million, he stated that Dangote Industries owns 60% of the plant, Sinotruk China owns 30%, and Anders owns 5% while giving a speech at the plant’s inauguration.
Senate President Godswill Akpabio and Lagos State Governor Babajide Sanwo-Olu were present at the June 9 opening ceremony.
According to Dangote in a The Cable report, the company’s choice to engage in truck assembly is a response to the need for automobiles in Nigeria’s construction, food, and beverage, and logistics sectors.
The billionaire said,
During his speech, Sanwo-Olu stated that because of the local automaker’s dependability, his administration intends to purchase an extra 100 compactor trucks.
The governor said,
Also speaking, Akpabio commended the Lagos state governor and Dangote for their efforts in creating jobs for Nigerians and reducing crime in Lagos.
Akpabio said,
Hikmat Thapa, the group’s general manager for projects, said they are handling welding, painting, and major jobs within the plant, adding that their capacity will increase to 30,000 trucks annually with the launch of the plant.
TimesNow.com.ng reported that Innoson Vehicles Manufacturing Company Ltd (IVM), Nnewi, has built a new multibillion-naira factory to begin producing heavy-duty vehicles and various buses using Compressed Natural Gas-powered engines.
According to the corporation, the car plant can produce up to 30,000 vehicles annually.
The move comes after President Bola Tinubu’s recent directive to the federal government ministers, departments and agencies to start purchasing compressed natural gas power vehicles.
Source: TimesNow.com.ng
