Investors to build $1bn pharmaceutical facilities in Ogun FTZ
A group of investors from Shaaxi Pharmaceutical Industry Limited in the Republic of China have concluded arrangements to construct a $1 billion hi-tech pharmaceutical park, drug manufacturing facilities, health centre and hospital on a 1000 hectares of land located in Ogun Guangdong Free Trade Zone (FTZ).
This follows the signing of Memorandum of Understanding (MoU) between Ogun State government and Shaaxi Pharmaceutical Industry Company Limited last week.
Speaking during the inspection of Ogun Guangdong Free Trade Zone led by Waindu Multafu and Mohammed Umar, comptrollers of Ogun Area Command and Federal Operation Unit of Nigeria Customs Service (NIS) respectively, Tunji Giwa, customs officer in charge of the FTZ, said such an investment in the FTZ would prompt upsurge of revenue generation in the state.
John Xue, chief operation officer of Ogun Guangdong FTZ, described the $1 billion investment as the single biggest investment in the industrial park, which has hosted 50 manufacturing factories, 30 of which have employed 4,500 Nigerian workers.
Xue noted that the pharmaceutical facilities would acquire 1,000 hectares of land out of the total 10,000 hectares land size in Ogun Guangdong Free Trade Zone, having acquired the land for 99-year tenor from Ogun State government, adding that about 200 expatriates from China, Lebanon and India are currently working in the zone with an investment worth $400 million.
He further said that German BOSCH machines and tools manufacturing firm have also conducted visibility studies on Ogun Guangdong Free Trade Zone for the possibility of localisation of the German company in the zone as well as Guangdong Roofing Plant, stressing that the pharmaceutical products and consumables produced by the plant would expand drugs and pharmaceutical industry in the country.
He appealed to President Mohammadu Buhari-led Federal Government and Governor Ibikunle Amosun-led Ogun State to fix one of the most valuable industrial roads– Agbara-Igbesa-Atan-Ota expressway–to allow smooth and easy movement of raw materials and finished goods and services.
“I stand bold to surmise that Ogun Guangdong FTZ is one of the fastest growing zones in the country despite some teething challenges the zone is grappling with. Numberless containers have fallen along the road while coming to the zone. Our vehicles, on many occasions, have got stuck in the middle of the road often flooded with water and mud during rainy season.
“This and sundry setbacks militate against the full utilisation of the opportunities/potential that the zone offers prospective investors,” the customs officer in charge of Ogun Guangdong Free Trade Zone (FTZ) said.
Waindu Multafu, comptroller, Ogun Area Command of Nigeria Customs Service (NIS), urged all investors operating in the Free Trade Zone, Igbesa, to respect all government policies that guide their operations, adding that the zone is established to engender smoother business relationship between the nation and China as well as other nations.
Mohammed Umar, comptroller, Federal Operation Unit (FOU), Nigeria Customs Service, said investors in the FTZ must be sincere in their operations by coming up with accurate calculations in terms of quantum of raw materials brought into the zone to help determine the rate and value of duties on products for export.
Umar expressed his displeasure at lack of respect to safety regulations in some of the industries in the zone, observing that some of the workers at the extrusion factories are not provided safety gear, thereby exposing them to the 100°C temperature which could cause health to the workers in future, adding all investors must strictly adhere to labour laws and safety regulations.
RAZAQ AYINLA