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NASENI, Chinese Companies Sign MoUs For $bn Investments 

Newscoven by Newscoven
October 19, 2023
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NASENI, Chinese Companies Sign MoUs For $bn Investments 

Executive Vice Chairman/CEO of National Agency for Science and Engineering Infrastructure (NASENI), Mr Khalil Halilu (left), with one of the Chinese investors.

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National Agency for Science and Engineering Infrastructure (NASENI) and three new Chinese partners have signed three Memorandum of Understandings (MoUs) for new projects valued at $2 billion. 

This took place at a ceremony attended by Vice President Kashim Shettima on the sidelines of the third Belt and Road Initiative (BRI) Forum in Beijing, China, today.

As contained in a release by NASENI Director of Information, Mr. Segun Ayeoyenikan, three Chinese companies signed MoUs to partner with NASENI and invest in Nigeria.

The three Chinese companies are Shanghai Launch Automotive Technical Co Ltd– an MoU to establish a new energy automobile facility for the production of new energy electric vehicles;

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China Great Wall Industry Corporation- an MoU for the turnkey delivery of Unmanned Aerial Vehicles (UAV) assembly line projects and;

Newway Power Technology Company Ltd– an MoU for transfer of technology on lithium batteries, electric vehicles and allied technologies.

In addition to the MoUs, 10 Chinese firms also presented Letters of Intent to Vice President Shettima.

They indicated strong interest in partnering with NASENI to invest in and develop various technology and industrial innovation projects.

The projects, collectively valued at $4 billion, covered energy (solar, natural gas, microgrids), vehicle production, training and technology transfer, drone technology and development of a new industrial park.

Executive Vice Chairman/CEO of NASENI, Mr. Khalil Halilu, who signed the agreements on behalf of the agency.

Speaking, he said: “This is a very important day for us at the National Agency for Science and Engineering Infrastructure.

“It is a day to show the results of some of the work that we have been doing in the last six weeks since I assumed the leadership of NASENI.

“Collectively, these three MoUs will, upon implementation, deliver $2 billion worth of new investments in Nigeria.

“That will translate into jobs, skills development and technology transfer, potential exports and foreign exchange earnings, and a boost to local economies.”

Halilu described the MoUs and the Letters of Intent as “early fruits of the diligent work of the new NASENI, an institution that we are reforming and building around the core principles of Collaboration, Creation and Commercialisation.

“We see this as a chain. We forge partnerships with willing and committed partners, at home and abroad.

“0n the basis of these partnerships, we create and co-create new products and innovation; and then we ensure that these products are taken to market in a commercially viable and profitable manner.”

Halilu stressed that the agency will “work very hard to transform them into commercially viable products, that will drive the industrialisation, development and prosperity of Nigeria.

“Innovation is not meant for the shelves, or the archives. It should translate into usable products. This is our belief, and one of our driving principles at NASENI.”

He expressed gratitude to President Bola Tinubu, who is the Chairman of the Governing Board of NASENI, and Vice President Shettima for their support and encouragement for him and the agency.

Halilu also pledged that the confidence the two leaders have reposed in him will not be misplaced.

The 10 Chinese companies that submitted Letters of Intent to Vice President Shettima are TBEA (solar products); DongFeng Vehicles Co. (vehicle design and production), HiLong Energy (CNG, LNG, methanol); China State Construction Company (building technology and materials); CIMC (natural gas infrastructure delivery).

Others include Value Platform International Services Ltd (vocational training); Acadia Technologies (Shenzhen) Co. Ltd. (smart grids and microgrids); Space Star Technology (Drone technology transfer); ENRIC (clean energy utilisation technology); and Hidier Group (development of new industrial park).

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Tags: $2billion projectsChinese CompaniesKhalil HaliluLetter of IntentMoUsNASENIPresident Bola TinubuVice President Kashim Shettima
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