LONGRICH to invest additional $100M in LFTZ

Must Read

FG to shut Third Mainland Bridge on July 24 for 6 months

The Federal Government is set to shut the Third Mainland Bridge for six months starting from Friday, July 24. This...

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...

PepsiCo Elects Segun Agbaje To Board Of Director

PepsiCo, Inc. (NASDAQ: PEP) today announced its Board of Directors has elected Segun Agbaje as an independent member of...

Lagos State Commissioner for Commerce, Industry and Cooperatives, Dr. (Mrs) Lola Akande recently received top officials of LONGRICH Production Company on a courtesy where the company representatives expressed the readiness of the company to inject additional $100M worth investment to the Lekki Free Trade Zone.

LONGRICH to invest additional 0M in LFTZ

Lekki Free Trade Zone is a collaboration of the Chinese and Nigerian governments under the management of Lekki Free Zone Development Company (LFZDC). Spread over 805 hectares of land, the zone will have several industrial zones and offer access to an enormous consumer market across West Africa.

LONGRICH to invest additional 0M in LFTZ

- Advertisement -

Dr. Akande who described the proposed investment as a good development for the State and Nigeria as a whole added that when the investment potential of the Zone is finally harnessed, the economy of the State would receive a major boom just as more job opportunities would be created.

LONGRICH to invest additional 0M in LFTZ

Akande disclosed that the proposed $100M investment which would come to fruition this year is an additional financial commitment by the company to the Zone following an earlier investment worth $20M injected by the company for the construction of its plants and offices in LFTZ.

Read Also:  Nigeria's Inflation Drops To 11.26% In October

LONGRICH to invest additional 0M in LFTZ

- Advertisement -

As at today, Longrich remains the largest and most advanced centre for research, development, manufacture and sales of cosmetics and healthcare products in China, with their products in over 150 countries of the world.

LONGRICH to invest additional 0M in LFTZ

In the same vein, the Commissioner received the management team of UpField Foods Nigeria Ltd where issues bordering on mutually beneficial relationships between the company and the state government were discussed.

LONGRICH to invest additional 0M in LFTZ

- Advertisement -

Upfield is the largest plant-based consumer packaged goods company in the world, operating in 95 countries and sells multiple brands of margarine and other food spreads, including Flora, Blue Band, Stork, Becel and Country Crock.

LONGRICH to invest additional 0M in LFTZ

In another development, the Commissioner and other senior officials of the ministry paid an assessment tour to the ALARO CITY located within the LFTZ where the Commissioner appreciated the progress of works within the city.

LONGRICH to invest additional 0M in LFTZ

ALARO CITY is located within LFTZ and it’s a 1,000 hectares of land out of the 16,000 hectares land in the Trade zone. The land is earmarked as a mixed development site located within LFTZ and will serve both industrial and residential purposes.

- Advertisement -
LONGRICH to invest additional 0M in LFTZLONGRICH to invest additional 0M in LFTZ

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

LONGRICH to invest additional 0M in LFTZLONGRICH to invest additional 0M in LFTZ

Latest News

PepsiCo Elects Segun Agbaje To Board Of Director

PepsiCo, Inc. (NASDAQ: PEP) today announced its Board of Directors has elected Segun Agbaje as an independent member of...

Lasaco Assurance Plc Announces Delay in Filing its Q1 2020 Unaudited Financial Statements

Lasaco Assurance Plc wishes to notify the Nigerian Stock Exchange (NSE), its shareholders and the investing public of the Company's inability to file its...

5 online tips for keeping in touch with people you care about

Keeping in touch sometimes requires conscious effort. We meet a lot of people physically and virtually. Today as we embrace the new normal of...

H1 2020 Review and Outlook plus Investment Strategy for H2 2020

Executive Summary The global economy is expected to witness negative growth – IMF predicts a decline in global output by 4.9% – but should gradually...

Union Diagnostic and Clinical Services Plc Announces Delay in Filing its Q1 2020 Unaudited Financial Statements

Union Diagnostic and Clinical Services Plc hereby wishes to inform The Nigerian Stock Exchange and the investing public that it was unable to file...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -LONGRICH to invest additional 0M in LFTZLONGRICH to invest additional 0M in LFTZ