Chinese Firm to Establish in Calabar

  • Chinese Firm to Establish in Calabar

In order to support the industrialisation efforts of the Cross River State Government, a Chinese firm, China Jiangxi Corporation for International Economic and Technical Cooperation, has announced plans to locate its Nigerian headquarters to Calabar.

The firm also indicated a strong interest in the state’s expressway project as well as the housing industry.

The Deputy Chairman of the firm, Changqing Cao, said this when he led his team on a courtesy call on the Cross River State Governor, Prof. Ben Ayade, in Calabar.

Citing the United States Engineering News records, Cao noted that the company ranked 250th among notable international contractors.

He said the choice of Calabar was apt as it shared similar topographical features with the Jiangxi province of China, adding, “We have 20 branches, 18 in Africa including Kenya, Zambia, Namibia and Ethiopia.”

He said the company was currently building an airport in Zambia and a university hospital in Kenya.

Explaining that the firm was interested in the construction of the expressway, Cao said if approved by the governor, its road construction engineers would be deployed to the state for commencement of feasibility studies.

He maintained that the firm also sought to embark on social housing, as Nigeria with a huge population was faced with accommodation challenges, which must be tackled to boost the economy so that it would impact positively on the citizenry.

The statement quoted Governor Ayade as saying that he was hopeful that having established strong footing in various West African countries, the firm would replicate the same experience in Cross River.

He said, “Make haste, as right now, we are under pressure from other companies, but as a state, we have not committed to any specific company in paper and in writing for the ‘superhighway’. It is open and virgin; you can come in as soon as you can.”

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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