The National Agency for Science and Engineering Infrastructure (NASENI) and three Chinese firms have signed three memorandums of understanding (MoUs) for new projects valued at $2 billion.
The three Chinese companies that desire to invest in Nigeria are Shanghai Launch Automotive Technical Co. Ltd., China Great Wall Industry Corporation, and, Newway Power Technology Company Ltd.
Shanghai Launch Automotive Technical Co Ltd is establishing a new energy automobile facility for the production of new energy electric vehicles while China Great Wall Industry Corporation is for the turnkey delivery of Unmanned Aerial Vehicles (UAV) assembly line projects.
Newway Power Technology Company Ltd is for transferring technology on lithium batteries, electric vehicles, and allied technologies.
The three agreements were signed on Thursday on the sidelines of the third Belt and Road Initiative (BRI) Forum in Beijing, China at a ceremony attended by Vice President Kashim Shettima.
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.
Chief Executive Officer of NASENI, Khalil Halilu, signed the agreements on behalf of NASENI, stating that the various agreements reflect some of the work at the organisation in the last six weeks of assumption of leadership position.
“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 states, describing the MoUs and the Letters of Intent as “early fruits of the diligent work of the new NASENI, an institution we are reforming and building around the core principles of collaboration, creation and commercialization.
He added that “we see this as a chain: we forge partnerships with willing and committed partners, at home and abroad; on the basis of these partnerships, we create and co-create new products and innovation; and then we ensure that these products are taken to market in a commercially viable and profitable manner.”
Halilu stressed that the Agency will “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. It should translate into usable products. This is our belief, and one of our driving principles at NASENI.”
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); and 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 a new industrial park).