Zeetin Engineering, an engineering firm, is establishing a multi-billion naira manufacturing facility in Idu Industrial space of the federal capital territory (FCT) to produce electric cars.
Speaking with journalists on Thursday, Robert Azibaola, promoter of the corporate, stated he has invested about N3.5 billion in establishing the place.
Azibaola stated, thus far, he has not borrowed cash from the financial institution, including that he’s desirous to obtain financial institution amenities that will help him to speed up the completion of the manufacturing facility.
He stated the Bank of Industry (BoI) and the Nigeria Export-Import (NEXIM) Bank have expressed their readiness to furnish Zeetin Engineering with a mortgage facility of N2.5 billion every.
“As a visioner, that is my imaginative and prescient and it’s to make Nigeria nice,” he stated.
“Except we get our act collectively, the black race globally won’t have a correct footing in spite of their innovations in the western nations. This is my private contribution in direction of making Nigeria an incredible nation.
“Zeetin focuses on all kinds of steel works of high-end engineering. It has acquired and put in probably the most subtle manufacturing machines (CNCs, Plasmas, 5Axis Milling, Lathes, and so on) in the steel works business in Nigeria.
“With its capability, Zeetin might be functioning as an OEM (authentic tools producer) for Nigeria and might be churning out full-scale industrial product for the Automotive, Aeronautic, Aviation, Railways, Marine, Agricultural sectors, and so on.
“The lack of OEMs in the nation has been an incredible hindrance to the expansion and improvement of producing and assembling firms. Manufacturers in Nigeria often resort to importation of all their spares amidst scarce international alternate and lead time.
“When totally operational, most Nigerian companies in want of specialized spare-parts will get from Zeetin direct and wouldn’t be ready for importation from overseas. Thus, Zeetin Engineering shall be bridging an important hole.
“Zeetin has array of machines which can be for the manufacture of different machines, spares and tools.
“This is why Zeetin is main the best way to develop into Nigeria’s proudly OEM (Original Equipment Manufacturer) at full-scale industrial ranges for Nigeria.”