Business

Dangote Rolls out Nigeria-assembled Trucks, Targets 10,000 Vehicles

  • Dangote Rolls out Nigeria-assembled Trucks, Targets 10,000 Vehicles

Dangote Sinotruck West Africa Limited on Tuesday rolled out its first set of locally assembled Chinese trucks as it began an eight-hour shift, assembling between four and five trucks per day at its Lagos-based plant.

The Group General Manager, Projects, Mr. Hikmat Thapa, who spoke in company with other senior managers of the company after conducting journalists round the assembly plant in Ikeja, said it was the first phase of the project.

He said that the second phase would begin in June with two shifts per day and hoped to do 24 hours daily operation moving from Semi-Knocked Down components to Completely Knocked Down (parts) assembly.

“As soon as we move on to 24-hour daily operation, we will churn out between 20 and 30 trucks per day. We are starting with SKD and now waiting for the CKD parts coming at the end of the month,” he said.

Thapa said the project was a joint venture between Dangote, owned by Africa’s richest man, Alhaji Aliko Dangote and Sinotruck of China, with the former controlling 65 per cent, and the later, 35 per cent.

According to him, the plant, with installed capacity to assemble 10,000 trucks annually, will take care of local demand as well as produce for export to some West African countries.

Thapa also hinted about the company’s plan to start producing the cabin needed by the locally assembled vehicles, which would signal the inclusion of local content in the truck production venture.

He said engine production was part of the programme of the company but did not give details.

The company said, in a statement, it would assemble and produce full range of commercial vehicles covering heavy duty truck, medium truck, light truck and other semi-trailers, which would create 3,000 jobs for Nigerians.

“It will also provide new employment opportunities, improve local automobile technology, equipment and technology level, promote the economic development in Nigeria,” it added.

Giving a background of the technical partner, it stated, “Sinotruk (Hong Kong) Limited, which was eestablished in 1960, has the largest production and export base for heavy-duty truck in China.”

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Share
Published by
Samed Olukoya

Recent Posts

Tolaram Group Drives Guinness Nigeria to First Profit in Six Months Post-Takeover

Guinness Nigeria Plc has reported a pre-tax profit of N20.1 billion for the second quarter…

4 hours ago

FirstBank’s FirstGem: Redefining Women’s Empowerment in Nigeria

The story of women’s contribution to Nigeria’s economy is as old as the nation itself. …

4 hours ago

UBA to host Knowledge Series Webinar on New Tax Regime for SME’s

Africa’s Global Bank, United Bank for Africa (UBA) Plc, is set to host a Knowledge…

5 hours ago

Moniepoint Partners With Visa to Expand Financial Services for African Businesses

Moniepoint Inc., a leading financial platform in Nigeria, has announced a partnership with Visa, a…

8 hours ago

Ecobank and CrediCorp Launch Affordable Loan Programme for Salary Earners

Ecobank Nigeria, in partnership with the Nigerian Consumer Credit Corporation (CrediCorp), has unveiled an innovative…

9 hours ago

Wema Bank Completes N40 Billion First Tranche, Eyes N200 Billion Final Capital Raise

Wema Bank Plc has announced plans to complete its capital raise with a combination of…

10 hours ago