In Ogun State, Osinbajo Lays Foundation for CCECC Wagon Assembly Plant
Vice President Yemi Osinbajo Saturday laid the foundation for the construction of Wagon Assembly Plant in Kajola, Ogun State.
The project has been described as the largest private investment by the China Civil Engineering Corporation (CCECC) in sub-Saharan Africa.
Statistics shows that the investment has the capacity to create 5,000 direct and indirect jobs and boost export and import within and outside Nigeria.
The factory is also expected to produce 500 wagons per year, and when completed, it would help conserve foreign exchange as many of the components of the rail system would be manufactured locally.
Osinbajo, in his remarks at the event, said: “The plant which is a private investment to be undertaken by Messers CCECC, is central in the production of rolling stock needed for the railway modernisation programme being implemented by this administration.
“This ceremony is not just another event, it is a historic turning point. For…
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