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NASENI Signs MoUs, Receives Letters Of Intent Worth Billions At BRI Forum In China

ByHybridNewsNg

Oct 20, 2023

In a resounding show of global collaboration and economic potential, the National Agency for Science and Engineering Infrastructure (NASENI) has sealed remarkable agreements at the Belt and Road Initiative (BRI) Forum in China. The organization, representing Nigeria’s burgeoning tech and industrial sectors, signed Memorandums of Understanding (MoUs) and received Letters of Intent, collectively valued at billions of dollars, ushering in a new era of substantial investments and technological innovation.

The ground breaking ceremony was presided over by the Vice President Kashim Shettima (GCON) on Thursday, October 19, 2023, witnessing the signing of three Memorandums of Understanding (MoUs) and the reception of Letters of Intent from Chinese companies, collectively totaling billions of dollars.

Under the MoUs, NASENI forged strategic partnerships with three prominent Chinese firms. Shanghai Launch Automotive Technical Co Ltd pledged to establish a cutting-edge facility for the production of new energy electric vehicles, emphasizing a commitment to sustainable transportation. China Great Wall Industry Corporation engaged in an agreement for the turnkey delivery of Unmanned Aerial Vehicles (UAV) assembly line projects, promising advancements in drone technology. Additionally, Newway Power Technology Company Ltd committed to the transfer of expertise in lithium batteries, electric vehicles, and related technologies, promoting innovation in the energy sector.

In a statement obtained by our correspondent, the Executive Vice Chairman and Chief Executive Officer of NASENI, Mr. Khalil Halilu expressed the significance of these agreements. He highlighted the potential $2 billion worth of investments resulting from these partnerships, emphasizing their transformative impact on job creation, skills development, technology transfer, exports, and local economies. Halilu underscored NASENI’s commitment to converting innovations into viable products, emphasizing that collaboration, creation, and commercialization were fundamental principles driving the agency’s initiatives.

Furthermore, ten Chinese companies, including TBEA (solar products), DongFeng Vehicles Co. (vehicle design and production), and Acadia Technologies (smart grids and microgrids), submitted Letters of Intent to Vice President Shettima. These proposals, spanning sectors such as energy, vehicle production, vocational training, and industrial park development, collectively amounted to an impressive $4 billion.

The event showcased the potential for international collaboration and technology exchange, aligning with NASENI’s vision for driving industrialization, development, and prosperity in Nigeria. Mr. Halilu expressed gratitude for the support from President Bola Ahmed Tinubu (GCFR) and Vice President Kashim Shettima (GCON), emphasizing their vital roles in fostering such transformative partnerships.

This momentous occasion marks a significant step forward for Nigeria’s economic landscape, highlighting the country’s appeal as a destination for substantial foreign investments and technological advancements.

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