Thursday, 28 January 2016

German Firm To Invest N14bn In Ibeju Lekki


As a response to his recent call for investors to take advantage of the development upsurge in Lagos state, the state governor, Mr Akinwunmi Ambode recently received the German Ambassador, His Excellency Michael Zenner, who led a group of German diplomats and investors on a courtesy visit to the Lagos House, Alausa, Ikeja.
According to the German ambassador, the major purpose of the teams visit was to express Germany’s intention to improve bilateral trade with Lagos state, whose GDP had risen to $131bn. Zenner said that Germany’s interest in Lagos will cut across diverse industries, especially food processing and building materials. In this light, Mrs. Isabel Knauf of the Knauf Group International, a major building materials manufacturer based in Germany, solicited the support of the Governor towards locating a $70million (N14billion) building/construction tools manufacturing company in Lagos, highlighting that the preference for Lagos was due to its close proximity to seaports, availability of gas pipeline and ready market. Trusted source informed Lekki People Magazine that the Knauf group is eyeing Ibeju Lekki Axis of the state as their prime spot to site the industry.
According to Mrs. Knauf, “We are looking to invest and build a factory here. We are looking for your support. We have been to Lekki Sea Port and want to proceed on investing straight off. I wish to express our interest in investing about 70million US dollars in construction tools factory for the first stage”, Knauf said. On his part, Governor Ambode assured the delegation of his administration’s commitment to do everything possible to ensure smooth take off of the project while reiterating his administrations resolve to create the enabling environment to boost economic ties between Lagos and Germany.

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