NAN| Dangote Group of Companies has established a $100 million truck assembly plant in Lagos as part of its efforts to boost foreign exchange and job creation.
The group said in a statement on Sunday in Lagos that the plant was floated by the group in partnership with National Heavy Duty Truck Group Company Limited, (SINOTRUK), a Chinese firm.
Mr Anthony Chiejina, the Chief Corporate Communication Officer of Dangote Group said the plant, located in Ikeja, has the capacity to produce 10,000 trucks annually.
He stated that before now, 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, in a partnership that was formed in 2014.
According to him, 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.
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Source: Dangote gets $100m truck plant
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