Lagos State Government has today, Monday received a major investment. The representative of the Knauf Group International, Mrs Isabel Knauf, announced that her company is ready to set up a 14 billion NGN manufacturing firm in the state.
Knauf made the announcement during an official visit of her comapny’s representatives led by the German ambassador to Nigeria, Michael Zenner to Governor Akinwunmi Ambode at Alausa, Ikeja.
Knauf solicited the support of the governor toward locating a $70 million (N14 billion) building/construction tools manufacturing company in Lagos. She said the preference for Lagos was informed by its proximity to ports, availability of gas pipeline and a ready market.
“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 in Lagos for the first stage”, Knauf said.
Zenner also told the governor that more Germany companies are willing to invest in the state.
Ambode, who said the state is ready to receive German investors, described Lagos as the economic hub of Nigeria and fifth largest economy in Africa, thereby making it investors’ first choice of destination in Nigeria.
Source: Lagos State official Press Release
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