Home Finance Chinese company targets green investment opportunities in Nigeria
Finance - October 16, 2018

Chinese company targets green investment opportunities in Nigeria

Elion Resources Group, a Chinese green industry company, has signed a memorandum of understanding in Owerri, Imo State, as part of its study of investment opportunities in Nigeria.

The projects planned by the company, facilitated by Converge Business Limited, relate to the fight against desertification, agriculture and the development of new energy resources, says a statement from the company.

President Wang Wenbiao, who led the company’s delegation to Nigeria, signed the memorandum of understanding with the Imo state government in Owerri this weekend.

Both parties have declared their readiness to exploit the potential of natural gas resources to increase domestic and industrial energy supply, raise the standard of living of the population and support sustainable economic growth and diversification.

Wang said the investment exploration in Nigeria followed the success of the Forum on China-Africa Cooperation (FOCAC) summit in Beijing last month, during which China proposed green development in the context of eight new initiatives to strengthen and expand cooperation with Africa.

Wenbiao said the company and the Imo State Government were considering forest restoration, clean energy, electricity and electricity from clean energy as likely areas of cooperation in the shortest time possible.

“I think coming to Nigeria will help in boosting the economy, education and poverty alleviation,” the Elion Resources boss said.

Responding, Governor Rochas Okorocha of Imo State said the desire of Elion Resources to invest in the state would go a long way to solve its power generation challenges.

Okorocha said: “Elion can develop the power sector of our economy. All our problems have been that of power, and gas is power. We have been waiting for this long to see who can move our gas into power so that the economic life of the people can change.”



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