Executive Chairman of Richbon Group, Chief CJ Muonagolu has promised to create about 5,000 new jobs through his automobile assembly, which is to be located in Anambra state.
Muonagolu said this, while speaking in an interview, after the signing ceremony of a $40 million (N7.8 billion) agreement with the Anambra state government in Awka.
According to him, his group will employ between 1,000 and 1,500 at 40 percent capacity, but the number will rise to between 3,500 and 5,000 jobs when its production hits a peak in the next few years. This is aside from thousands of indirect jobs that would be available to Nigerians as a result of the project.
The planned plant will be for the manufacturing of agricultural equipment, Sino trucks and Cedar commercial buses, in partnership with a Chinese firm.
Muonagolu, who signed on behalf of his company, said the factory on completion would facilitate the transformation of the nation’s agricultural value chain and enhance transportation and distribution chain. He commended the Federal and Anambra state governments for their efforts in encouraging Nigerian entrepreneurs to achieve their dream of job creation and industrialisation, stressing that the task of diversifying the Nigerian economy was the responsibility of all the citizenry.
He also commended the Anambra state administration led by Chief Willy Obiano for tackling the security challenges in the state and improving its investment climate.