Chinese Company, Longrich to Invest Additional $100m into Lekki Free Trade Zone

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SWITZERLAND, JANUARY 20 – Lagos State Commissioner for Commerce, Industry and Cooperatives, Dr. (Mrs) Lola Akande recently received top officials of LONGRICH Production Company on a courtesy visit.

The company representatives expressed the readiness of the company to inject additional $100M worth investment to the Lekki Free Trade Zone.

Lekki Free Trade Zone is a collaboration of the Chinese and Nigerian governments under the management of Lekki Free Zone Development Company (LFZDC).

Spread over 805 hectares of land, the zone will have several industrial zones and offer access to an enormous consumer market across West Africa.

Dr. Akande described the proposed investment as a good development for the State and Nigeria as a whole.

She added that when the investment potential of the Zone is finally harnessed, the economy of the State would receive a major boom just as more job opportunities would be created.

Akande disclosed that the proposed $100M investment which would come to fruition this year is an additional financial commitment by the company to the Zone following an earlier investment worth $20M injected by the company.

As at today, Longrich remains the largest and most advanced center for research, development, manufacture and sales of cosmetics and healthcare products in china, with their products in over 150 countries of the world

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