By Our Reporter on February 19, 2015 Business
By AMECHI OGBONNA

Chief CJ Muonagolu is the Executive Chairman of Richbon Group, an indigenous company engaged in importation and assembly of automobile and construction equipment. Just recently, his company in alliance with its Chinese technical partners signed a $40million Memorandum of Understanding with the Anambra State government for the establishment of a Nigerian assembly plant that would manufacture agricultural machineries, construction equipment and mass transit buses as part of strategies to deepen Nigeria’s industrialization process.


In this interview with Daily Sun, Muonagolu explained the benefits of the project, pointing out it would create over 6000 direct and indirect jobs while boosting Anambra state’s internally generated revenue among other advantages.

Excerpts
About Richbon

Richbon started like every other Nigerian business because sometimes you may not know what to say, but suffice it to say that God has been so wonderful to us. For instance, the remarkable event that is taking place
today is indeed my vision from childhood when I was dreaming of manufacturing an aero plane thinking as a child.
But today it is not coming as an aero plane but something close to it. Richbon Group started by importing completely built units of trucks and trailers and by 2000 we moved into construction equipment. From that
point we got the dealership of SINO Trucks which we expanded further to get the franchise of XGMA construction equipment which is rated 3rd best quality construction equipment manufacturer in the world. That has taken us to the height you are seeing today and we give all glory to God.

Why we signed MoU with Anambra Govt

My vision is never to continue thriving on the completely built unit. We decided to sign this Memorandum of Understanding with the Anambra state government because from inception of my career I have always
wanted to create employment for our youths to complement what the state and Federal Governments have been doing.
But I can also say here that we have received quite some impetus in that direction from both the Federal Government and the state governments in our effort to achieve this objective, hence the fresh challenge for us to
go back, re-strategise and talk to our partners to bring the assembly plant down here so that it can help our people create jobs and support our industrialisation process.
Today you can see we are one of the first to capitalise on that opportunity to help our economy create more jobs. That is also why we boldly told our partners that the tune of the business is changing in our environment hence it is no longer going to be business as usual. We told them that we need to start doing something like assembly plant here and we are happy they did not hesitate to approve of the request considering our strength and role in the market.
However, having agreed that this is feasible, we looked round to see where we can set up this industry and we penciled down some states and Anambra came tops.
As a matter of fact what made Anambra to emerge as a preferred destination for us to begin establishment of this assembly plant is the government’s four point agenda for development and its aggressiveness in tackling the security threat in the state. It is so exciting that up until
11pm yesterday we were still in an office holding meetings and I was impressed that things have really changed in the state.
Back in those days of insecurity, no one could have contemplated that because as early as 6pm everybody would have gone to bed for fear of kidnappers and robbers. But to the glory of God that things are changing
fast here courtesy of the Willy Obiano led government.

Roll out of assembly products after MoU

Oh, sure immediately after this MoU, we will impress it on the governor to inaugurate a five -man action committee to ensure we take possession of the property allocated to us so that we can start work immediately.
We are going to produce made -in -Nigeria construction equipment which would be the first in Africa in the next 18 months from the day of the MoU.

Partnering China instead of EU, USA

The Chinese were willing to invest in Nigeria because when we spoke to our partners they agreed with our proposal. Even before we agreed to partner with the Chinese partners, we took time to look at the quality of
their products and we were convinced that they were worth dealing with.
For instance, XGMA is a global brand and when we say they are third best in the world, we are sure of their standards. I don’t whether you know the number of construction equipment manufacturers in the world
today. In china alone they are more than 500 companies that are manufacturing construction equipment. In USA and Europe, they are more. So, if XGMA comes third in the world, then there is every need to partner it.
In terms of quality there is no reason we cannot give it a thought especially as they are willing to also invest in Nigeria.

Project cost

The value of the project is about $40million and the Anambra state government through Anambra State Investment Promotion and Protection Agency ( ANSIPPA )has been very wonderful in its support to the project. We want to thank the managing director, Chief Joe Billy
Ekwunife, and his team for their support for being a responsive agency.
The inauguration of that agency has made it possible for what usually takes years to achieve to be accomplished in weeks. It is wonderful. This MoU would have been signed in December but because I was out of the
country and that shows you how efficiency ANSIPPA has been in facilitating industrialization of the state.

Our product

We will be assembling XGMA construction equipment and Sedan trucks and buses and these products will be made in Nigeria and sold at affordable prices. The quality will be top class and the status rights would be guaranteed in the sense that if you are not satisfied with our
products, we advise you bring it back to us and you will be compensated. The same standard of our partners will be on all our products and the next stage of the project after the MoU will be for all our technical partners to demonstrate the quality control and all that will be stream­lined.

Power supply

You can see that the government of President Goodluck Jonathan is tackling the issue of power supply and the Anambra state government is giving it top priority. However, we are also making alternative arrangement on how we can power our factory when we begin production.

Employment

We will employ between 1000 and 1500, immediately after commencement. But by the time we go into full production we will be creating employment for about 3500 to 5000.


http://sunnewsonline.com/new/?p=105520

GOODLUCK NIGERIAAAAAAAA
FRESH AIR CONTINUES....
Source: WWW.sunnewsonline.com

Source: www.sunnewsonline.com

Why many are still lazily lying on their bed blaming GEJ for their woes; others who have foresight and are business minded are taking advantage of GEJ's positive policies to invest...Fresh Air Continuaaaaaaa

GEJ till 2019; Fresh Air Continue...

Well done

Mods...Seun, Ngwakwe, Obinoscopy, lalasticlala... kindly do the needful that Nigerians may appreciate the impact of positive policies of GEJ...

Picture of it or you old your peace

before 20 comments,this good thread will be rubbished by haters*see them*

Yes! That's d never die spirit of ndi igbo. Igbo kwenu o!

Yes! That's d never die spirit of ndi igbo. Igbos lead, others follow. Igbo kwenu o.

Still speaking in future tense, typical of an "I will do" government.

Next!!!

omenka:
Still speaking in future tense, typical of an "I will do" government.

Next!!!

and some clowns are already celebrating

omenka:
Still speaking in future tense, typical of an "I will do" government.

Next!!!

Are you averse to good news or naturally a sadist
Can you state anything wrong with the investment plan of this entrepreneur? What is wrong in his taking advantage of positive policies of government; inviting his partners and signing MOU Even with a promise to role out equipment 18months from now
Why are you always celebrating negative news but frowns at good news about Nigeria?
How much have you invested in this economy?
May you never die this way otherwise it will be really unfortunate for your soul...I pray people don't celebrate only the sad and negatives in your life too...

1toRtoiSe1:
and some clowns are already celebrating

Bro, it doesn't take much to detect a man without his own opinion and who dines in the consul of the empty headed & swine's...You're simply one and a definition of this...pele(no offence)...

How can you call people who are happy for new investment and job opportunities in our economy with its attendant multiplier effects clowns What do you really want in life? Do you have any investment or know what it takes including the protocols involved because I guess otherwise? It seems you folks pray that this economy crumble so that you can insult GEJ...but unfortunately one with God is majority...
Since you're pained at others progress may others be pained at yours...

Blackfire:
before 20 comments,this good thread will be rubbished by haters*see them*

It is happening already bro even before the 20 you prophesied...mods do the needful...

Blackfire:
before 20 comments,this good thread will be rubbished by haters*see them*

It is happening already bro even before the 20 you prophesied... Can't wrap my head on how people will be happier to hear bad news than good news about others including their fatherland... yet they want progress in their own life...###karma will always be a good master##....Seun, Lalasticlala, Obinoscopy, Ngwakwe & other mods; kindly allow Nigerians to see what's going on in our economy... thanks

Front page...

Trut:
Front page...

tomakint, Idumuose, atlwireles, Nigerianvenom, chukwudi44, priscaoge, tonte,
xcolanto, Sunnybobo3, biafranqueen, truckpusher, theassassin, jujuboy, jesusiscoming,
Brownlord, Mogidi, anonimi, noblezone, tit, ishiamu, firefire, babyosisi, blacktechnology,
datolee, Billyonaire, taharqa, ujoinme, uchidodo, publisher, gramci, Longeria, jmaine,
Phockphockman, agabal23,del77...come and yarn your own...

Following

Trut:
Following

lolz...we have to keep pushing it till lalasticlala, Obinoscopy, Ngwakwe and other mods come our rescue...

dats awesome


but government first duty is protection of lives and property.
you can only rule a living human.


in other news buhari for President

Forward ever...

GEJ is working, there is hope ......

I believe in transformation......

If you believe in transformation hit like.

In the UK, General Buhari got a standing ovation.

In Washington, they believed in him.

In Russia, they applaud him.

The rest of the world are applauding General Buhari.

Now let applaud General Buhari by our stating our state of origin and followed by SAI Buhari.

[size=25pt]Na SO! God bless Nigeria
[/size]

omenka:
Still speaking in future tense, typical of an "I will do" government.

Next!!!

SMH....

Continuity...........
#teamGEJ

Same old story

Can't wait to march for Buhari.

; ;



[size=21pt]rotf[/size]


apc crowd they where payed by buhari

that means buhari is richer than jonathan


[size=30pt]LOL[/size]

Hmmm

This good