
By Alex C
Kewalram Chanrai Group, a global conglomerate with interest in automobile, agribusiness and textile, is partnering car maker, Foton to establish an automobile assembling plant that will produce Foton range of Vehicles in Lagos, Nigeria’s commercial capital.
The assembling plant is estimated to cost over N10 billion ($62 million) and will hold an initial production capacity of 15,000 units annually. This partnership comes on the back of Nigeria’s recently established automotive policy, which aims to boost production locally assembled automobiles within Nigeria and discourage importation of wholly assembled cars.
“They have already acquired 25 hectares of Land in Ikorodu Lagos state,” Raju Sawlani, Executive Director, Kewalram Chanrai Group, said.
Sawlani added that the company is in the process of finalizing the design and importation of other necessary tools and equipment needed for effective take off.
The plant which will house assembling of commercial and passenger vehicles including Trucks, Vans, Buses, sport utility vehicles and pick-ups.
Foton is the largest Vehicle producer in China and the second Largest in the world. Its vehicles are distributed in more than 40 Countries including South Africa, Angola, Russia, Spain, Italy, Middle East, India, Argentina and Chile.
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