A Chinese firm, Xiamen XGMA International Trade Company Limited, has entered into partnership with a Nigerian firm, Richbon Group Nigeria Limited, to invest $40 million, about N6.4 billion, to set up a tractor assembling plant in Nigeria. This will lead to the local manufacture of XGMA tractors, heavy duty machineries and equipment. XGMA, founded in 1951, is a Chinese national large- scale backbone enterprise, which specialises in manufacturing of wheel loaders, excavators, road construction machinery, forklift trucks and mini-machinery Speaking in an interview announcing the partnership in Lagos, Mr. Sahm Yap, Vice President Xiamen XGMA, said the assembling plant, which will
be built in Anambra State, will be used for the
manufacture of majority of its earth-moving
machineries and will also provide job opportunities for about 5,000 Nigerians when completed. Yap explained that Nigeria is an important market to XGMA and it is hoping to make it a centre for sales, after-sales, spare parts supply, financing and manufacturing. He further stated that the company is currently in
discussion with the relevant authorities and is
about getting the necessary clearances for the
assembling plant, adding that immediately the
necessary approvals are secured, work will
commence in earnest on the plant. He said Xiamen XGMA is one of the major supplier of
earth moving tractors and equipment in China and the world and has been eyeing the Nigerian market because of the opportunity it will afford the company to deploy its high quality products in Nigeria, and also look for other investment opportunities, especially in areas related to manufacturing. He said, “Our machines are of the highest quality and the price is highly affordable, this is what we
believe will give us an edge against other
competitors in the Nigerian market. “With the partnership with Richbon and when the assembling plant is concluded, our products will be an household name in Nigeria, especially in the area of civil engineering and construction. “The partnership will create enormous job opportunities for Nigerian and will help attract the much-needed investments into Nigeria.” He said the company is ready to transfer its technology to Nigerians and cooperate with Nigeria in achieving economic development, adding that the memorandum of understanding it signed with Richbon will serve as the starting point towards achieving these goals. On its partnership with Richbon, Yap disclosed that it took the company a long time before it could get a company to partner in Nigeria, due to its commitment to quality and high standard. “When we had the opportunity to partner with Richbon, we discovered that we had a lot in common and that our interests match. Since we started the cooperation with Richbon about a year ago, last year, we have seen a very good and long term partner and we believe it will be beneficial not only to both companies, but also to the Nigerian economy. Also speaking, Mr. Chike Muonagolu, Chairman/
Chief Executive officer, Richbon Group, said both XGMA and Richbon have signed an assembling agreement with two vehicle assembly plants in Nigeria, as regards the tractor assembling plant in Nigeria, adding that within the next 18 months, they intend to employ between 1,500 to 2,000 Nigerians in the initial stage of the project. He expressed optimism that that the partnership will bring about increased patronage of the products by governments at all levels, corporate organisations and individuals. “Knowing that the products one is using is made in Nigeria will endear the products to Nigerians, especially as they will know that they can easily get spare parts, after-sales service among many other benefits,” he said.
www.vanguardngr.com/2014/11/chinese-nigerian-firms-invest-40m-tractor-assembly-plant/

Another Chinese company started the process of assembling heavy duty trucks in Enugu last month after signing an agreement with ANAMCO.
www.businessdayonline.com/2014/09/hope-rises-for-eastern-auto-market-as-new-investors-enter-anammco/#.VA_g_3lwZoM

We are getting there

Next 18 months? Hmmmmm.

Largas:
Next 18 months? Hmmmmm.

Too near or too far?

Good news!!!

Anambra adibago mma.

Obiano steering well.

God bless ndigbo huzzle

Collynzo9:

Too near or too far?

That is May 2016. Considering they're setting up assembly plant for machineries. It's near. Obiano once said he is focusing on agriculture, security, oil and gas and other sectors, he's not doing bad after all. Oil is a lost cause since the price is down now. Agriculture and commerce are better. Kudos to him.
Ebonyi needs to bring more agriculture investment into that state, they're wasting their huge agricultural potentials.

Many are mad few are roaming the streets.

TERMINATOR231:


AMADI OBINNA COLLINS, Come and kneel down here.

These are the reasons why abortion should have been legal

TERMINATOR231:
We need this thread on the frontpage. Let the war continue here. Yeeboes, una no go rest henceforth on nairaland.



CC:
tsolz1300
Joeachuzie
collynzo9
customized13
Kororugged
GeneralScatter101

And so what, aint here to argue with phools back n forth, juveline is not a career, its a stage in ones life...grow up phools

KoroHeavy:


Ebuka

you want to cry again today

Mr 6 feet 7, you want to cry

OkijaAmaka:
These are the reasons why abortion should have been legal

Mumu toad.. thunder blast your mouth

My OldGee aint no mad, i just left the dude now, he is chilling with his GF.

TERMINATOR231:


Your useless father is mad. May he continue to rot in hell.

KoroHeavy:


Shut Up! Ebuka you are an eddiot

ur pics and address will grace this place soon.

i thot u said u are now Kim Kardashian

big fool - agbaya

these y.o.r.o.b.a.s self. smh

My pics, my address(city and villa), my phone no, my ATM pin....post all them sh1t here phools

KoroHeavy:


Shut Up! Ebuka you are an eddiot

ur pics and address will grace this place soon.

i thot u said u are now Kim Kardashian

big fool - agbaya

FreeGlobe:
these y.o.r.o.b.a.s self. smh

Otu nne gi

TERMINATOR231:


Just hold on, We need to push this thread to the frontpage. We wanna show case fresh new stocks tonight and need crowd. No mention of any mod please. Collynzo9, Where are you?

Hahah.. you mean collynzo the drunk?
He has given his life to christ ever since you displayed his fresh pictures

So somebody like this is ugly to you phools, SMDH.

THIS WORLD AINT GETTING NO BETTER IF THE DUDE HERE SHOULD BE LABEL AN UGLY MUTHERPHUCKER.

TERMINATOR231:


Ebuka the ugly goat. You will be the first to cry today, your senile mother will regret today.

Where are the fla.tties, lets continue here.

Sorry am leaving this joint, i dnt do more than 2pages and i wouldnt start today by hanging out with some useless mofos.

Bye for now phools, see ya on the next thread.



...checking if Buddah Monk is free atlast.

TERMINATOR231:


Dont rush yourself Ebuka, dont cry yet.

If u drop ur email here these boys go use am trace u for facebook come dey form don ,na thunder go fire una i dare u people post my pics