NASENI Secures $2 Billion Investments from Chinese Companies

In a significant development, the National Agency for Science and Engineering Infrastructure (NASENI) has signed three Memorandum of Understandings (MoUs) with Chinese companies during a ceremony attended by Vice President Kashim Shettima (GCON) at the third Belt and Road Initiative (BRI) Forum in Beijing, China. These projects represent a combined investment value of $2 billion.

The MoUs involve collaboration with three prominent Chinese companies. Shanghai Launch Automotive Technical Co Ltd will work with NASENI on establishing a new energy automobile facility for producing new energy electric vehicles. China Great Wall Industry Corporation will participate in a turnkey delivery project for Unmanned Aerial Vehicles (UAV) assembly lines. Lastly, Newway Power Technology Company Ltd will engage in technology transfer related to lithium batteries, electric vehicles, and associated technologies.

Additionally, 10 Chinese firms expressed strong interest in partnering with NASENI to invest in various technology and industrial innovation projects valued at $4 billion. These projects encompass areas such as solar energy, natural gas, microgrids, vehicle production, training and technology transfer, drone technology, and the development of a new industrial park.

Khalil Halilu, the executive vice chairman and chief executive officer (EVC/CEO) of NASENI, who signed the agreements on behalf of the agency, emphasized the significance of these agreements. He noted that they will result in $2 billion worth of new investments in Nigeria, fostering job creation, skills development, technology transfer, potential exports, and economic growth.

Halilu stressed NASENI’s commitment to transforming these initiatives into commercially viable products that will drive industrialization and prosperity in Nigeria. He expressed gratitude to President Bola Ahmed Tinubu, Chairman of the Governing Board of NASENI, and Vice President Kashim Shettima for their unwavering support.

Numerous Chinese companies, including TBEA, DongFeng Vehicles Co., HiLong Energy, China State Construction Company, CIMC, Value Platform International Services Ltd, Acadia Technologies (Shenzhen) Co. Ltd., Space Star Technology, ENRIC, and Hidier Group, also submitted Letters of Intent, reflecting their interest in furthering partnerships in various fields.

SOURCE: TechEconomyNG

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