A Chinese building materials company Sinoria FABCOM, has announced plans to float a fiber cement board manufacturing factory in Abuja.
Deputy General Manager of Sinoria FABCOM, Mr. Jackie Dai Hui made this known to journalists in Abuja.
He also noted that a few years from now many companies in China will find it cheaper to set up factories in the country, because of its huge market potentials which can also become the base for servicing the rest of the African markets.
According to him, “Nigeria has all it takes, the raw materials are there and skilled manpower is on the rise, it is only a question of time and I believe this would be very soon, our company Sinoria FABCOM want to be part of the industrial growth and development of Nigeria and that is why we are reinvesting our profit in the new factory rather than taking it back to China.”
Sinoria FABCOM is part of the Chinese global giant, CNBM, a Fortune 500 company rated number one globally in the manufacture of building materials, already has an industrial complex in Kuje Abuja where it set up four years ago for the manufacturing of stone coated roofing sheet.
Jacke Dai Hui said that Sinoria FABCOM wants “to use its building materials expertise to help Nigeria solve the problem of its housing need by providing quality but affordable building materials to the Nigerian housing sector.”