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A Chinese company, Shandong Ruyi Technology Group Company, is to invest $600 million in the textile and garment industry in Kano State.
Already, talks between the company and Kano State Investment Promotion Agency have reached an advanced stage ahead the signing of a Memorandum of Understanding between the two partie.s.
The Chairman, Kano State Investment Promotion Agency, Alhaji Isyaku Tofa, made this known at the weekend during the presentation of certificates of occupancy(C of O) to two other investors by the governor.
The investors, who received their C of O were Black Rhino/Dangote Group and St. Meer International Investment and Management Company.
Tofa, who was delighted by the deal, said: “We are about concluding talks with them and they were encouraged by the commitment of the Ganduje administration to provide tax incentives as well as free land for their huge investment”.
