By Abiodun Lawal

The President of Inner Galaxy Group, Mr Li Shuang, has said that his company was ready to invest $400 million in establishing a hot rolled coiled steel factory in Ogun State.

Shuang, who led a delegation of principal officers of the company on a courtesy visit to Gov. Dapo Abiodun of Ogun, made this known on Tuesday in Abeokuta.

He said that the proposed factory would have the capacity to employ about 6,500 direct and indirect workers and would be located in Ewekoro Local Government Area of the state.

Shuang added that the company was expected to commence operations in April 2026.

“We are multinational company with vast investments in Asia, the Philippines, Malaysia, and some African countries like Ghana and Angola, we entered the Nigerian market in 2005, producing iron rods for the building industry,” he said.

In his remarks, Abiodun expressed delight at the company’s plan to site the huge investment in Ogun.

The governor attributed this to his administration’s deliberate actions to make the state conducive for investment and the leading industrial hub in Nigeria and the West Africa sub-region.

“This is a $400 million investment; this aligns with the President’s vision to ensure that we grow this economy to a trillion dollars, and I think that you will be contributing your quota in achieving that.

“We are excited that you will also be employing people.

“I will be commissioning a multimillion-dollar diagnostic equipment facility during the week.

“This administration has managed to attract quite a lot of industries in the last six years,” Abiodun said.

The governor noted that the state was blessed with abundant human and natural resources, disclosing that alluvial gold had been discovered in large quantities, just as the state has the highest quality of lithium.

“I think it may interest you to know that we also have lithium in Ogun State; the lithium in Ogun State is reported to be the highest quality in Nigeria.

“We are number one in non-oil revenue in Nigeria because two-thirds of the state sits on limestone.

“We have a lot of limestone here; we are actually number one in cement production in Sub-Saharan Africa, and we are number three in all of Africa,” the governor explained.

Abiodun explained that his administration had put in place an integrated ecosystem of infrastructure to support investments coming into the state.

He said that required infrastructure like roads, rail, proximity to the airport, affordable housing accommodations, quality healthcare services, and schools were available in the state. (NAN) (www.nannews.ng)

Edited by Bayo Sekoni