More Investors hit Free Trade Zone Ibeju-Lekki
Singaporean investors headed by Dr. K.P. Koon, on their visit to Nigeria expressed a desire to invest in the Lagos Ibeju Lekki Free Trade Zone as well as port development, a report by Nairametrics has confirmed. The minister brought a trade delegation from Singapore to understand the market potential. They are looking for opportunities where they can either invest or set up a business in Nigeria.
According to Dr. Koon, the Lekki Free Trade Zone (LFTZ) is something interesting for Singaporean companies to see. This, it is hoped, would lead to greater awareness and excitement for Singaporean companies to explore business opportunities in Nigeria.
The Tolaram Group, an international private consortium and promoters of the LFTZ, while talking about the development in the Zone, stated that only four industries have commenced operations in the Zone. Although there are more investors indicating interest in the massive development project.
The consortium said so far, it has a combined project value investment of about $150 million for the development of the four factories. It also plans to invest more funds as new industries spring up at the facility. The factories include the TG Arla, manufacturers of Dano Milk; Palm Oil Refinery, producers of Power Oil; Cereals and Kellogg’s Production Company and the Insignia Technology Prints.
In other news…
The Group Managing Director of Tolaram Group, Haresh Aswani, reiterated that the $1.2 billion Lekki deep sea port project would be completed come 2020. First phase of operations will see a capacity to handle 2.5million twenty-foot equivalent unit (TEUs). Aswani further said the country’s largest deep sea port when extended to its second stage, would have the capacity to handle 4.5million TEUs
Culled from: Footprint2Africa
What other proof is necessary to convince you that buying into Real Estate in Ibeju-Lekki would probably be the best investment move you could possibly ever make? Think about this for a minute…would the richest man in Africa sink a project worth billions of dollars in a place prone to floods and all that? Would the Singaporean investors be interested in the Ibeju Lekki area if there is no Real Estate Value to it?
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