Dangote Partners Chinese Company To Set Up 100,000 Capacity Truck Assembly Plant

Aliko Dangote has embarked on the establishment of multi-million dollar vehicle assembly plant project in Lagos.

This is to conserve forex in view of the huge amount spent annually importing thousands of trucks for distributing its products from plants within Nigeria and across the Africa continent.

A source who pleaded anonymous confirmed that the assembly plant deal will generate employment for an estimated 3,000 workers.

According to China Daily, the deal for the $100 million, 10,000 per year capacity plant signed in May 2014, is the eighth of Shandong, China-based National Heavy Duty Truck Group Company Limited (Sinotruk), to be built abroad.

The plant will be 60 per cent owned by Dangote Group, trading under Dangote Industries Limited, leaving Sinotruk with the remaining 40 per cent equity stake.

The plant when established will ease the distribution of its products, like cement, sugar, flour and pasta, among others, even in its plants across the continent.

Recall that the Africa’s richest man is also building a massive, 650,000 barrel-per-day refinery in Lagos.

According to Dangote, the estimated $15 billion refinery and petrochemical plant has the potential to satisfy Nigeria’s daily requirement of 445,000 to 550,000 barrels of fuel, with spare capacity to export, which would require a lot of long trucks for product distribution.