The Kano State Government has signed a Memorandum of Understanding with a Chinese firm, Shandong Ruyi Technology Group, to establish a $600million Textile Industrial Park in Kano.
Shandong Ruyi is China’s leading innovative technology textile enterprise, and the planned multi-million dollar investment in Kano will be its biggest in Africa, upon completion.
The agreement, which was reached at the company’s headquarters in Joining, Shandong, China, was not only anchored at cementing the industrial relations between the two countries but to also engender economic prosperity in Kano.
Governor Abdullahi Ganduje of Kano, said the business opportunity when actualised, would be the biggest Foreign Direct Investment in the state in recent time. In anticipation of the park’s take-off, Ganduje was said to have requested the Group to visit the state to ascertain the readiness of his government to partner with the Chinese company.
He said, “I thank you for the invitation to visit one of your factories and from what I have seen in your production line, your facilities are world-class. One can only imagine the number of jobs that would be created, and the value that would be added to our economy when your plant commences operation in Kano.”
He assured the company that his administration would create the enabling environment for the smooth take off of the project, adding that government was taking steps to ensure that Kano became the number one destination for investment opportunity, not only in Nigeria, but in the West Africa sub-region.
The Chairman, Ruyi Group, Mr. Yafu Qiu, said the investment agreement entered with Kano state government was to hasten growth and support global development in Nigeria.
Yafu, who considered as significant, the visit of the governor to China to personally officiate the signing of the MoU, expressed confidence in the commitment and successful implementation of the project.
He said, “Ruyi company would also look at the possibility of executing a solar power project specifically for the Textile Industrial Park, and we also have the desire to collaborate with the government towards enhancing the capacity of its ongoing Hydro Power project at Tiga and Challawa.”
