Chinese Civil Engineering Construction Company (CCECC) has disclosed plans to invent $1 billion in Nigeria’s economy, aiming to become a major investor in the West African nation.

Yuan Li, the President of CCECC, who revealed this in an interview after his company hosted the Nigerian President, Dr Goodluck Jonathan, in Beijing, said that the construction firm’s investment will be channelled towards the construction of cement factory, the modernisation of a tin can port, saw mill factory, funding for the construction of investment in real estate and in manpower development.

He stated that CCECC planned to move from being a mere construction company to becoming a major investor in the Nigerian market, adding that the firm had the highest number of on-going construction projects in the country.

“In the past Chinese Civil Engineering Construction Corporation was mainly in construction work.” He said.

“Since we have become one of the biggest construction companies in Nigeria, we need to find some other ways of development.”

Highlighting its current projects, the company said it was already developing 110 houses (villas) around the Lagos-Epe axis, near the Lekki Free Trade Zone, which would be completed by the end of this year at the cost of $10 million.

It noted that before now, it manufactured its cement needed for construction. However, it would further expand the factory and begin to manufacture cement for the Nigerian market so that the pricing of the product would be competitive.

The Chinese firm also revealed plans to construct modern plazas at strategic locations in Lagos and Abuja – Nigeria’s capital city – equipped with shopping malls, offices, hotels and other businesses.

In the development of manpower for Africa’s most populous nation, it said it would offer scholarships to Nigerian students on railway training in Beijing.