ECONOMY: Indorama, Jindal, others to invest $14bn in Nigeria
By Eyo Nsima
Four Indian giants, including Indorama Petrochemical Limited and Jindal Steel and Power Limited, have pledged to stake $14 billion in Nigeria’s economy.
The commitments to Nigeria’s economy were disclosed on Wednesday during the Nigeria-India presidential roundtable and conference in India.
In a statement obtained by The Daily, www.thedaily-ng.com, Ajuri Ngelale, special adviser to the president on media and publicity, stated that the commitments were expressed after President Bola Tinubu’s assurance that foreign investments would yield fruitful fruits in the nation.
He stated: “Do not procrastinate. Don’t be frightened about investments in Nigeria. Bring it on. Ask your questions and make your requests. The trade and investment opportunities are enormous. I have a team, and I am the captain of that team, and I assure you that we solve problems.
“I will captain and lead the course of investment, development, and prosperity for the largest democracy in Africa and for investors from the rest of the world.”
However, Indorama Petrochemical Limited pledged to invest $8 billion in the expansion of its fertiliser production and petrochemicals; Jindal Steel and Power Limited pledged to invest $3 billion, while Jitender Sachdeva, founder of SkipperSeil Limited announced $1.6 billion in the establishment of 2,000MW power plants.
