Chinese firm to invest $1billion in Nasarawa state

Chinese firm to invest $1billion in Nasarawa state

Friday, August 21, 2015 5:58 am

A Chinese staff of Tongyi and the Nigerian workers

A Chinese staff of Tongyi and the Nigerian workers

Mr Yong Shubo, General Manager, China Public Procurement, on Thursday promised the Nasarawa State Government of his commitment to invest about one billion dollars to develop the state in the next 5 years
A statement signed by Alhaji Ahmed Tukur, Chief Press Secretary to Gov. Umaru  Tanko Al-Makura, said Chinese government would execute the projects through Tongyi Allied Mining Limited Group.

It said the partnership would fast track the construction of its proposed Cargo Airport in Lafia. The statement added that the gesture of the Chinese firm would also facilitate the construction of an industrial district in the state.

“The general manager of the Chinese firm disclosed this while addressing newsmen after an interaction with Gov. Al-makura and other top government officials in Lafia.

“The industrial district will accommodate industries, especially smelting plant, to generate power, using the abundant coal and iron deposits in the state.

“The Chinese firm has agreed to take advantage of the newly built Karu International Market to construct a shopping mall and other facilities to augment the state government’s effort in boosting the economy of the state,” it stated.

It said the market was capable of creating over 100,000 jobs with a multiplier effect subsequently.

The government said that other areas of partnership with the firm included completion of the moribound Farin Ruwa Hydro Power Plant in the state.

The statement added that the firm would also construct a six-kilometre road behind the Karu Market to reduce traffic congestion on the Mararaba-Karu highway.

According to the statement, “China will invest in the areas of power generation, mining, airport, job creation and road construction.

The statement said China was looking at the possibilities of making Nasarawa State an investment hub because of the existing opportunities and its proximity to the federal capital.

Earlier, Gov. Tanko Al-Makura expressed confidence in the firm, owing to its record in other countries.

Al-Makura said that the collaboration with the Chinese investors would open up frontiers of investment opportunities and create wealth for the state.

Tongyi Allied Mining Ltd  was established in 1997. It was headquartered in Romania, and its subsidiaries are throughout Europe, Asia and Africa.

In Europe, the company has subsidiaries in Romania, Bulgaria, Hungary, Czech Republic, Italy, and Poland.

Since 2008, it has  invested more than 200 million US dollars in Nigeria and established Nigeria Tongyi Allied Mining Ltd. which specializes in mining.

At present, Tongyi Allied Mining Ltd. is headquartered in Abuja, with offices in  Lagos, Bauchi, Plateau, Zamfara, Ogun and Ebonyi.

The mining sites of the company are located in  Zamfara, Katsina, Bauchi, Plateau, Ebonyi, Kaduna, Niger, Nasarawa and Taraba.

Join The Conversation

What do you think?

This site uses Akismet to reduce spam. Learn how your comment data is processed.