Nigeria Secures Sinoma International Investment Interest
Temitope Mustapha, Abuja
Nigeria has secured the investment interest of Sinoma International Engineering Company, a leading subsidiary of the CNBM Group, which boasts $85 billion in assets.
Special Presidential Envoy on Climate Action, Ajuri Ngelale, made this known on Monday following his meeting with the Chairman of Sinoma International Engineering Company, Mr. Yin Zhisong, in Beijing, China.
Ngelale said Sinoam is interested in siting its renewable energy technology manufacturing industry in Nigeria’s Evergreen City.
The Envoy on Climate Action also disclosed that Nigeria’s engagement with the Chinese firm was part of endeavours to achieve value chain localization in renewable energy technology manufacturing.
He added that the meeting with Yin Zhisong was a significant step towards actualizing the country’s target of growing its renewable energy industry.
“After a long journey to Beijing from Accra over the weekend, Nigeria’s endeavour to achieve value chain localization in renewable energy technology manufacturing took a significant step forward as I was hosted by the Chairman of Sinoma International Engineering Company, Mr. Yin Zhisong, to a dinner in the Chinese capital.
“Sinoma International Engineering Company is a leading subsidiary of the CNBM Group, which boasts $85 billion in assets under management, 200,000 employees, 11,000 patents, and 26 R&D Institutes, Sinoma expressed strong interest in siting its formidable renewable energy technology manufacturing industry in Evergreen City as a strong demonstration of their belief in H.E. President Bola Tinubu’s green industrial vision. It was a productive and memorable introductory session”.
Similarly, Nigeria’s Coordinator on Climate related matters, Ngelale also held virtual discussion with a combined team from the U.S Department of Energy and U.S State Department as a follow up on Nigeria’s development of circular economy and private sector-led cum public sector-enabled initiative to co-create industrial clusters.
“Following the hours-long evening reception, I joined a very important (1:00am Beijing time/1:00pm D.C. time) virtual discussion with a combined technical team from the U.S. Department of Energy and the U.S. State Department with respect to a follow-up on Nigeria’s development of a circular economy and the new programmatic, project-driven, private sector-led, and public sector-enabled initiative to co-create industrial clusters and consumer credit-tied financing packages to unlock Nigeria’s envisioned $1 trillion GDP in an inclusive fashion that creates opportunity for all Nigerians.”
