Africa’s richest man Aliko Dangote has partnered with China’s heavy duty truck group Sinotruck to set up a $100 million plant to assemble trucks and cars in Nigeria for local use and export
, the executive director of Dangote group said.
The joint venture, which is 65% owned by Dangote and 35% by Sinotruck will assemble components and knocked down parts imported from Sinotruck to the Nigerian plant.
It aims to meet an expected increased demand for transport in the country as the government focuses on boosting agriculture and farmers need to move goods across the vast country.
The plant has the capacity to assemble 16 trucks a day and will export to West Africa, he said, adding the facility would expand into vehicle manufacturing. Read the full story here.