Africa’s foremost businessman, Alhaji Aliko Dangote in partnership with China’s leading truck manufacturer, National Heavy Duty Truck Group Company (SinoTruck) is set to establish a multi-million Dollars truck assembling plant in Lagos State.
It was gathered that the coupling plant was borne out of the difficulties currently suffered in the procurement of foreign exchange as the Dangote Group imports its trucks which it uses to transport products locally and across African countries.
The deal which is worth a whooping $100m was signed in 2014 in Beijing, China. While Nigeria’s Dangote has 60% of it trading under Dangote Industries Limited, China’s SinoTruck has the remaining 40% of the equity stake.
The assembling plant which is expected to manufacture 10,000 trucks yearly is located in Ikeja, the capital of Lagos State. The plant is in close proximity to the Dangote Agro Sacks Limited at Oba Akran Avenue for operational purposes.
The plant is estimated to generate 3,000 employment when it is fully operational.
Before now, Nigeria is the biggest market of the SinoTruck in Africa with Dangote Group having about tens of thousands of its truck in its fleet used in distribution of products such as cement, sugar, salt, pasta among other its products.