Three Chinese companies, Calmaco YTO Group, Geely International Corporation and Shaolin Bus Manufacturing Limited, have entered into a partnership agreement with the Oyo State Government to establish an assembly plant for cars, buses and tractors.
The Regional Director of Camaco YTO, Hai Anto, who spoke on behalf of the three companies, said the partnership was the result of months of planning and discussion among all the parties involved, adding that the project would bring about sustainable socio-economic development in the state.
He spoke on Wednesday during a business meeting with the Oyo State Governor, Mr. Abiola Ajimobi, which was also attended by the Director of Industrial Infrastructure, National Automotive Council, Mr. Waheed Odetoro, in Ibadan.
He said, “This project will promote agriculture in the state because there will be enough equipment to develop the sector through this partnership. There is also the opportunity to develop the transportation industry because this project will ensure the production of cars and buses in the state.”
In his response, Governor Ajimobi said he met the representatives of the companies during his visits to China and that the support of the Federal Government was necessary for the success of the partnership.
He also hinted that the project would commence by June this year, adding that an industrial park had been designed as part of the project.
“This development is the result of several trips I made to China. It is the aspiration of this government to ensure industrialisation in the state so that the economy can improve. It is also a sign of greater future that the Federal Government is supporting this project. The project will be complemented with an industrial park that will serve as a feeder company to the one we are setting up. Hopefully, all these will take up in June,” he said.
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