Dangote, Innoson Get Competition as Another Company Begins Vehicle Assembly Plant in Abia
- ROXETTES Motors will begin vehicle assembly plant in Abia State to rival Innoson and Dangote
- The company’s chief executive officer, Kaycee Orji, said the mechanical parts needed to complete the plant will arrive in August
- He disclosed to the Abia State governor that the company has also produced CNG generators to power the plant
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Another vehicle assembly plant in the South East, ROXETTES Motors, is set to start rolling out vehicles in Abia State before the end of October this year.
ROXETTES Motors chief executive officer Kaycee Orji disclosed this during a meeting with the Abia State Governor, Alex Otti, saying the vehicle assembling plant is almost concluded.
Source: Getty Images
The new plant will assembly 40,000 annually
Orji said the plant will assemble the vehicles in Abia State before the end of October 2024. He stated that the plant at Obuaku City is nearing completion and that all the equipment needed to start producing 40,000 units of automobiles annually is expected to arrive in the state before the end of August.
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Orji disclosed that the dream to build the vehicle assembly plant began a year ago and received Governor Otti's full backing.
He said the governor provided the enabling environment to operate and made good his promises. He said the governor asked them to site the plant in the state.
Reports say that the ROXXETES boss informed the Abia governor that his company has produced CNG generators in China and will be leaving China in June. He said that upon installing the CNG generators, the company would have no business drawing electricity from the national grid.
Full production to begin soon
Governor Otti expressed pleasure over the development, saying the company will soon move from assembling to full vehicle production.
According to the governor, he has instructed the Commissioner for Works to build a dual carriageway from Enugu-Port Harcourt Expressway in Obuaku City to create access to the industrial city.
Dangote explains why he invested in vehicles
Legit.ng reported that the chairman of Dangote Industries Limited, Aliko Dangote, has revealed the real owners of his recently launched project, Dangote Sinotruk West Africa, a fully knocked down CKD truck assembly plant recently opened in Lagos.
As a joint venture with a total investment of over $100 million, he stated that Dangote Industries owns 60% of the plant, Sinotruk China owns 30%, and Anders owns 5%. He disclosed this while giving a speech at the plant’s inauguration.
Senate President Godswill Akpabio and Lagos state Governor Babajide Sanwo-Olu were present at the June 9 opening ceremony.
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Source: Legit.ng
