Kano State Government has signed a Memorandum of Understanding with Shandong Ruyi Technology Group of China, for the establishment of a $600Million Textile Industrial Park in Kano.
Secretary to the government of Kano state, Alhaji Usman Alhaji and the company’s chairman, Mr. Yafu Qiu signed the agreement at the company’s headquarters in Jining, Shandong, China.
Shandong Ruyi is China’s leading innovative technology textile enterprise and the planned multi-million dollar investment in Kano will be its biggest in Africa, upon completion.
Speaking shortly after the ceremony, the state governor, Dr. Abdullahi Umar Ganduje, who had earlier visited one of the group’s factories, described the event as “the biggest Foreign Direct Investment expected in the state in recent times”.
“I thank you for the invitation to visit one of your factories and from what I have seen in your production line, your facilities are world-class.
One can only imagine the number of jobs that would be created and the value that would be added to our economy when your plant commences operation in Kano”, he stated.
Governor Ganduje informed his host that Kano has put in place facilities for textile clusters across its 44 local government areas and requested the Group to visit the state and inspect them, with a view to incorporating them into the Textile Industrial Park.
He assured the company that his administration would create enabling environment for the smooth take off of its project, pointing out that his administration was taking steps to ensure that Kano becomes the number one destination for investment not only in Nigeria but in the West Africa sub-region.
On his part, the Chairman of Ruyi Group, Mr. Yafu Qiu said the investment is to hasten growth and support global development, noting that having the governor come personally for the signing of the MoU has boosted his confidence for the successful implementation of the project.
According to him, his company would also look at the possibility of executing a solar power project specifically for the Textile Industrial Park, even as he expressed desire to collaborate with the government towards enhancing the capacity of its on-going Hydro Power project at Tiga and Challawa.
He added that the company would also look into the possibility of investing in existing textile companies in Kano.