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LequteMan
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The Dangote Group has disclosed that it signed a deal with Chinese Company, National Heavy Duty Truck Group Company Limited, SINOTRUCK, in 2014 to build a multi-million vehicle assembly plant in Lagos state, Nigeria.
Dangote will collude with SINOTRUCK to produce several thousands of trucks used mainly for haulage business from its newly promoted assembly plant at Ikeja, Lagos.
The deal is worth $100 million with the plant expected to produce 10,000 trucks every year.
60 per cent of the plant will be owned by Dangote Group, trading under Dangote Industries Limited, leaving SINOTRUK with the remaining 40 per cent equity stake.
The plant is expected to generate jobs for 3,000 workers.
Dangote will collude with SINOTRUCK to produce several thousands of trucks used mainly for haulage business from its newly promoted assembly plant at Ikeja, Lagos.
The deal is worth $100 million with the plant expected to produce 10,000 trucks every year.
60 per cent of the plant will be owned by Dangote Group, trading under Dangote Industries Limited, leaving SINOTRUK with the remaining 40 per cent equity stake.
The plant is expected to generate jobs for 3,000 workers.
