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Isuzu Motors Partners Kewalram Chanrai Group to set up Truck Assembly Plant in Nigeria

Japanese automaker, Isuzu Motors Limited, has concluded arrangements with a Nigerian firm, Kewalram Chanrai Group, to set up a truck assembly plant in the country, and has said that construction work had started on the assembly plant site in Lagos.

The two firms, at a joint press conference in Lagos, said that the first set of locally assembled Isuzu trucks would be rolled out in the second quarter of next year.

The Deputy Managing Director, Kewalram Chanrai Group, Mr. Victor Eburajolo, said the project would be fully financed by a subsidiary of the group, Koncept Auto Centre Limited, with technical support coming from Isuzu Motors of Japan.

He said the group, after securing the licence from the Federal Government for the project, had been in constant touch with the National Automotive Design and Development Council, giving it the progress report.

According to him, the firm was encouraged by the determination of the government to ensure the success of its auto policy, which had paved the way for many automakers to establish vehicle assembly plants in the country.

He recalled that Isuzu used to be a major auto brand in Nigeria, occupying a reputable position because of its strength, durability and performance.

The General Manager, Koncept Autocentre, Mr. Gaurav Kaul, who provided the details of the Izuzu assembly plant, hinted about the possibility of exporting some of the locally assembled trucks to other West African countries.

“We expect that by 2016, we should be fully operational and running. We’re starting with light duty trucks,” he explained.

Kaul also said the company was interested in making long-term investments in Nigeria, adding, “As we have been doing in the last 100 years, we’ll continue on the growth path.”

The Kewalram Chanrai Group recently signed a deal with Foton Motor Group of China to assemble 15,000 vehicles annually in Lagos as a result of the government’s new automotive policy.

www.bizwatchnigeria.ng

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