Nigeria's Ogun state & Dubai-based company to build garment factory
The team is preparing for the ground-breaking ceremony of the project in September this year.
Nigeria's Ogun state government and a Dubai-headquartered company, have decided to start work on a $2-billion garment unit, the biggest such factory in Africa. The team is preparing for the ground-breaking ceremony of the project in September this year. With a capacity to produce about 350,000 tonnes of garments per year, the factory would employ between 120,000 to 150,000 direct and indirect workers.
Arise IIP's shareholders are Africa Finance Corporation (AFC), Dubai-headquartered Equitane and Fund for Export Development in Africa (FEDA), a subsidiary of Afreximbank.
With a capacity to produce about 350,000 tonnes of garments per year, the factory would churn out about 4.4 million units of garments every day and employ between 120,000 to 150,000 direct and indirect workers, said state governor Prince Dapo Abiodun, who recently met an Arise IIP delegation led by its president Gagan Gupta.
The project will resuscitate cotton production in Nigeria and would have ripple effects on the economy, he was cited as saying by domestic media reports.
The unit would be located at the Special Agro Processing Zone at the airport city and would turn the state into a garment hub in the continent, he added.
Fibre2Fashion News Desk (DS)
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