Coscharis-Renault invests N1.75 billion new assembly plant
Automotive Industry giant, Coscharis-Renault has disclosed it invested close to the sum of N1.75 billion on the construction of its new ultra-modern assembly plant situated in Awoyaya, a Lekki suburb, Lagos.
The company said that establishment of the new state-of-the-art manufacturing plant was made possible through the collaboration efforts of its new business partner, the renowned French automobile giant, Renault Group.
President of Coscharis Group, Cosmas Maduka, who made this disclosure while speaking at the formal event marking the unveiling and formalisation of the partnership pact with Renault said the company was well positioned to commence full scale manufacturing of world-class automobile for consumers in the Nigerian market, going forth.
According to the foremost industrialist, the Coscharis Group had made a deliberate move by making huge financial investments to acquire the plant, adding that the decision was a demonstration of the company’s strong believe and faith in Nigeria’s automotive industry.
He added that the huge investment in both financial and human resources was a great sacrifice that would ultimately help create the much desired job opportunities for Nigerians as well as help in growing the economy.
He called on the federal and state governments in the country to reciprocate the company’s gesture through creating enabling environment for the growth of the automobile industry in Nigeria.
He added that it was regrettable a lot of governmental agencies as well as banks in the country were in the practice of investing resources in buying used and obsolete vehicle brands that get imported into the country, pointing out that such investments amounted to a waste of resource since the nation could do better by investing in the production of brand new automobile.
“We are very optimistic that the future of this country is still very bright, and that the automobile industry will continue to grow. With a population of close to 200 million people, if you understand the game of number, you will agree we don’t have to wait until it happens; we need to be there,” he said.
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