China and Nigeria has signed a memorandum of Understanding (MOU)
to set up a pharmaceutical manufacturing factory in Nigeria's
southwestern state of Osun.
At the signing ceremony on Saturday in the state capital Osogbo,
Zai Zhuangmiao, representative of China's Sichuan provincial
government, said the project will cost US$50 million.
He explained that the construction of the factory, which would
be producing anti-malaria drugs, would commence this month and be
completed in June 2007.
Osun State Governor Olagunsoye Oyinlola who described the
development as "a major breakthrough for the Osun government in its
bid to attract foreign investment to the state," said Osun would
give all necessary support, including land for the smooth take-off
of the factory.
He added that the state had already a free trade zone and an
airport approved for it which would effectively service the factory
and similar ones that would be set up in the state.
(Xinhua News Agency December 4, 2006)
