Aliko Dangote, Nigerian entrepreneur, aims to create 3,000 jobs with the establishment of a truck assembly plant in Ikeja, Lagos.
Hope For Nigeria The plant is the result of a partnership between the Dangote group and Sinotruck, a Chinese heavy-duty truck company.
“The decision to go into the truck assembly plant project was informed by the need to conserve forex in view of the current economic recession.
“The deal, worth $100 million, expected to have an assembly plant that will produce 10,000 trucks per year, was signed in May 2014, in China.
“According to the deal agreement, the plant is 60 per cent owned by Dangote Group, trading under Dangote Industries Limited, leaving Sinotruck with the remaining 40 per cent equity stake,” the statement by the firm explained.
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