A Chinese company, Fuhai Energy Group Company Limited, has said that it is investing the sum of $2.1 billion in the establishment of petrochemical factories in Bauchi state.
The company’s group chairman, Sun Jiankang, disclosed this in Bauchi when he paid a partnership visit to Governor Bala Mohammed, saying, “Our industrial park will certainly make great contributions to the development of Bauchi state.”
Jiankang said, “What we want to do, we are very optimistic about the future of Nigeria. We hope this time around, the planned petrochemical city of Bauchi would be the largest and most promising in this part of Africa we have ever made”.
“Our industrial park will cover the following industries: petroleum, chemical, pharmaceutical, minerals processing, equipment mechanical processing, and import and export trade. I hope that our chemical city in Bauchi will become a great industrial hub and a symbol of friendship between China and Nigeria in the very foreseeable future”.
Jiankang revealed that China Fuhai Energy Group planned to carry out the Bauchi industrial projects in three phases with a one-time design. Phase one’s employment number is expected to be around 50,000, thereby giving the three phases a total of 50,000 employees.
“The first investment amount is about $700 million in phase one of the industrial hub, So the total amount for the investment in three phases of the project is $2.1billion. The taxation for the state government. The first phase will see the springing up of 50 factories, totalling 150 industries”.
Sun, the general manager of the Fuhai company, therefore seeks the unalloyed cooperation of the state government in realising their dream of speedy industrial park development in Bauchi, which would boost revenue generation and allow hundreds of people to have jobs for sustainable livelihoods.
Sun noted that the company intends to employ local workers, construct schools and healthcare facilities,
and support the state government’s development agenda, including the establishment of water and gas plants.
The Fuhai Group New Energy Holding Co., Ltd is a large-scale energy and chemical enterprise integrating petrochemical, coal chemical, new chemical materials, clean energy, logistics distribution, terminal retail, and real estate businesses.
Responding, Governor Bala Mohammed assured that the state government has gone very far in getting the accreditation for the Oil & Gas Free-Trade Zone Authority in Bauchi to facilitate the ease of doing business in the state.
Senator Bala Mohammed expressed confidence that both the aspects of jobs and development as regards to the three phases of the project, will be taken at the same time with due diligence in terms of assessment, saying “We want to lead Nigeria in terms of developmental friendship.
He said their visit aligns with his administration’s commitment to attract meaningful investments.
He emphasised that Bauchi State is rich in natural and mineral resources, and his government is eager to harness them for sustainable socio-economic growth.
Mohammed assured the China Fuhai Energy Group of his administration’s full support to ensure the successful establishment of their operations in the state.
