…Secures $4Bn Letters of Intent On Investments
The National Agency for Science and Engineering Infrastructure (NASENI) and new Chinese partners signed three Memoranda of Understandings (MoUs) for new projects valued at $2 billion in the country.
The Chinese companies that signed MoUs at a ceremony attended by Vice President, Kashim Shettima, on Thursday at the sidelines of the third Belt and Road Initiative (BRI) Forum in Beijing, China, to partner with NASENI and invest in Nigeria include Shanghai Launch Automotive Technical Co Ltd – an MOU to establish a new energy automobile facility for the production of new energy electric vehicles.
Others are China Great Wall Industry Corporation- an MOU for the turnkey delivery of Unmanned Aerial Vehicles (UAV) assembly line projects; and Newway Power Technology Company Ltd – an MOU for the transfer of technology on lithium batteries, electric vehicles and allied technologies.
In addition to the MOUs, 10 Chinese firms also presented Letters of Intent to the Vice President, indicating strong interest in partnering with NASENI to invest in and develop various technology and industrial innovation projects, collectively valued at $4 billion, covering energy (solar, natural gas, microgrids), vehicle production, training and technology transfer, drone technology, and the development of a new industrial park.
Speaking at the ceremony, Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of NASENI, Mr. Khalil Halilu, who signed the agreements on behalf of NASENI, said: “This is a very important day for us at the National Agency for Science and Engineering Infrastructure, because it is a day to show the results of some of the work that we have been doing in the last six weeks since I assumed the leadership of NASENI.
“Collectively, these three MoUs will, upon implementation, deliver $2 billion worth of new investments in Nigeria; that will translate into jobs, skills development and technology transfer, potential exports and foreign exchange earnings, and a boost to local economies”, he projected.
Halilu described the MoUs and the Letters of Intent theme as early fruits of the diligent work of the new NASENI as the management sustains reforming and building around the core principles of Collaboration, Creation and Commercialization.
In addition, he pointed out that the management saw the development as a chain as the agency continued to forge partnerships with willing and committed partners, at home and abroad; on the basis of which it is creating and co-create new products and innovation; and ensure that these products are taken to market in a commercially viable and profitable manner.
He maintained that the agency would work very hard to transform them into commercially viable products that will drive the industrialization, development, and prosperity of Nigeria, adding that innovation is not meant for the shelves or the archives but should translate into usable products.
The Chinese companies that submitted Letters of Intent to Vice President Shettima are TBEA (solar products); DongFeng Vehicles Co. (vehicle design and production), HiLong Energy (CNG, LNG, methanol); China State Construction Company (building technology and materials); CIMC (natural gas infrastructure delivery).
Others are: Value Platform International Services Ltd (vocational training); Acadia Technologies (Shenzhen) Co. Ltd. (smart grids and microgrids); Space Star Technology (Drone technology transfer); ENRIC (clean energy utilization technology); and Hidier Group (development of new industrial park).
