Longrich to Site $20m Factory in Lekki Free Zone

By May 11, 2018 Investment News

As part of efforts to grow its market reach and sustain the current trade exchange between Nigeria and China, Longrich, a Chinese firm on Tuesday lay foundation to a $20 million factory at the Lekki Free Zone, Lagos. The factory is the first of its kind to be sited by the Chinese firm outside the shores of china.

Alex Jia, GMD, Longrich Africa said the company in its growth trajectory plan to be the 5th largest company in the world in five years, thereby growing Longrich supply chain in Nigeria and Africa.

According to Jia, Longrich have invested over $30million into the Nigerian economy and are ready to bring in technological support needed with the foundation laying of its first factory outside China to scale up its market share in Nigeria.

“Longrich is building its first oversees manufacturing plant in Nigeria because the government and the people deserve Lonhrich for a better living. It will create over 1000 direct job opportunity especially for the local people,” he stated.

Akinwunmi Ambode, Governor, Lagos State said the state will continue to put measures in place to ensure sustainable business environment in Lagos, and especially along the Lekki Free Zone area, as he reiterate the state willingness to partner with the private organisations in the state towards women and youth empowerment.

Ambode who was represented by Olayinka Oladunjoye, Commissioner for Commerce, Industry and Cooperation said the government will give maximum support to every investment coming into Lagos as the economic hub of Nigeria.

Biodun Dabiri, Chairman, Lekki Free Zone appreciated Longrich effort of siting its first factory outside China in the zone as he pledged their support for the factory and other business interest in the Lekki Free Zone.

However, the construction authorization contract was signed by Huang Xi Gong, CEO Lekki Free Zone and Xu Zhi Lun, Vice President, Longrich. With the authorization signing, the company proceeded onto the sight to lay its foundation blocks for Longrich Nigeria factory.

Jiangsu LONGLIQI Bio-Science Co., Ltd (Longrich) is located in the LONGLIQI Bio-Industrial Park, which covers an area of more than 133 hectares (about 500 acres). It produces more than 1000 products in eight categories, including household, cosmetics, health care products, furniture, real estate and logistics.

Source: BusinessDay