June 17, 2024

The chairman of Dangote Industries Limited, Aliko Dangote, has detailed the motivations behind his investment in the newly launched Dangote Sinotruk West Africa, a fully knocked-down CKD truck assembly plant in Lagos.

During his speech at the plant’s inauguration, Dangote highlighted the joint venture’s significant investment of over $100 million, with Dangote Industries holding a 60% stake, Sinotruk China owning 30%, and Anders controlling 5%.

Dangote explained that the decision to enter the truck assembly business was driven by the pressing need for automobiles in Nigeria’s construction, food and beverage, and logistics sectors.

He stated, “Our aim is to meet the expected current demand of this segment of automobiles required for logistics, construction, food, and beverage industries in Nigeria.”

He also emphasised the company’s commitment to contributing to the country’s shift towards Compressed Natural Gas (CNG) vehicles, saying, “I am sure we are going to fully participate in the new CNG, which I think the government is driving.

“But we in Dangote, we are actually committed to buy 10,000 of the CNG trucks.”

The opening ceremony, held on June 9, was attended by notable figures, including Senate President Godswill Akpabio and Lagos State Governor Babajide Sanwo-Olu.

Hikmat Thapa, the group’s general manager for projects, provided further insights into the plant’s operations, noting that the facility handles welding, painting, and other major tasks.

Leave a Reply

Your email address will not be published. Required fields are marked *