Chongqing Construction Engineering, Oilserv, Tianjin Energy, Alpha Group sign MoAs to develop Nigeria’s Oil and Gas Infrastructure
Four companies have signed eight MOAs today in Abuja for the development of several multi-billion dollar investment and infrastructure projects in Nigeria.
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has signed Memorandums of Understanding with several Chinese firms for new investments, spanning five years, in the oil and gas industry.
Nigeria is seeking to raise between $40 billion and $50 billion from Chinese investors to fund key oil and gas projects, Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, said on Monday.
China has said it seeks more crude oil exports from Nigeria in spite of the recent changes in oil prices. Zao LingXiang, Economic and Commercial Counsellor of the Chinese Embassy in Nigeria, said this in an interview with the News Agency of Nigeria in Abuja.
A Chinese truck manufacturing company, SINO Trucks of China, has completed arrangements to establish an assembly plant in Calabar, the Cross River State capital.
Chinese investors have indicated interest to establish an integrated state-of-the-art rice mill in Akwa Ibom as a means of boosting rice production.
Nigeria, through the Federal Ministry of Agriculture and Rural Development (FMARD), has expressed its readiness to partner with the Chinese government, while receiving the Chinese Ambassador to Nigeria, Gu Xiaojie at the Ministry’s Headquarters in Abuja.
Dangote Cement Plc signed a contract valued at $4.34 billion with Chinese firm, Sinoma International Engineering Co. Ltd, for the construction of 11 new plants.
The Nigerian Content Development and Monitoring Board (NCDMB) has concluded arrangements to sponsor 22 young Nigerians to China to acquire critical skills needed to operate and maintain machines that will be used at the pipe mill being set up at Polaku
In an effort to boost trade and investment, the Nigerian government and the Peoples Republic of China on Wednesday signed a Memorandum of Understanding (MoU) to facilitate investment between the two countries.