SANNY PROJECTS $30M PORT PLANTS INITIAL INVESTMENT IN NIGERIA
Sanny, a Chinese based construction and port operations equipment manufacturers has said it is currently planning to make an initial investment of over $30billion (N14.25 billion) in the setting up of a production facility for the manufacturing of port operational equipment, an indication that the capital flight suffered in the importation of these equipment would soon be a thing of the past.
Sanny, which is a leading construction equipment manufacturing company in China, also manufactures ports operational equipment such as Rubber Tyred Gantry Crane RTG, reach stackers, heavy duty cranes, forklifts and several many other cargo handling equipment, which are used by all the terminal operators in Nigeria but are imported.
Regional director of the company in charge of West, East and North Africa, Mr. Li Lei, who spoke at the Port NIMPORT Executive Business Networking Lunch Meeting tagged ‘Improving Ports’ and Terminal Operational Efficiency’ held in Lagos, disclosed that the company is currently seeking a local partner as well as government support in its bid to establish in the country with a view to growing and developing the vast Nigerian market.
According to him, the company currently has four manufacturing facilities outside China located in Brazil, India, Germany and the United States of America, but regretted that there is no such facility in Africa, which informed its decision to establish one in Nigeria, being the largest market in the continent.
Apart from this, he also hinted that the decision to establish in Nigeria was also informed by the current foreign policy of the Chinese Government, which tries to focus attention in terms of investment in the African Continent.
“The Chinese Government is particular about investing in Africa and the President, Mr. Xi Jin ping has also reinforced this fact each time he visits Africa and Nigeria with a population of about 190 million people no doubt, is the biggest market in the continent and you know that companies go to where the market and the demand is”, he said emphatically.
He disclosed that for a start, the company is projecting the manufacturing of not less than 500 units of such equipment through which it would create n fewer than 800 direct jobs for skilled people in the country per annum.
It was further gathered that the company at the initial stage would focus on manufacturing for only the Nigerian market, after which it would begin exports to other West, North and East African country, as it would expand its manufacturing capacity as the market demands expands.
Available statistics show that the company, which has been in the manufacturing of construction and port equipment in the last 27 years, currently has been in the number one position of the 50 per cent of the entire Chinese market in the last five years especially in terms of manufacturing of cargo handling equipment.
Lei, who called for government support in terms of tax holiday and other fiscal incentives, assured that the current power supply situation in the country would not pose a major challenge as the company has been producing over 153 mega watts of electricity in Ethiopia generated through the wind turbines.
Meanwhile, chairman of the organizing committee of the NIMPORT 2016 event, Mr. Fortune Idu, while presenting a welcome address, said that efficient port operation was required to foster development.
Idu, who doubles as the Chief executive officer of FCI International Limited, insisted that quality port equipment helps to accelerate speedy cargo delivery and reduce cost over all time loss by so doing.