Just like President Muhammadu Buhari’s recent successful investment drive to China, the Kwara State Government has secured a $56m Chinese investment for the establishment of a textile industrial park.
The State Governor, Alhaji Abdulfatah Ahmed finalised the investment during his current investment trip to East China.
The agreement for the establishment of Kwara Chitex Industrial Park was signed between Ahmed and Mr. Shi Zengchao, Managing Director, of Ningbo Jinsheng Star Import and Export Co. Ltd., at the 18th China Zheijand Investment and Trade Symposium, held in Ningbo, East China at the weekend.
The signing, which was a part of the Ningbo Major Investment Projects Signing Ceremony, organised by the Ningbo Municipal People’s Govt, involved a total of $3.7b worth of investments in 31 projects out of which $1.4b was for outbound investments with the Kwara Chitex Industrial Park being the only Nigerian bound.
Speaking after the signing, Ahmed expressed delight about the multi-million dollar project, which was expected to commence soon, stressing that the state was focusing on manufacturing to stimulate its economy and create jobs.