The Founding President of SkipperSeil Limited, Jitender Sachdeva will invest $1.6 billion U.S. dollars in the establishment of twenty 100MW power generation plants across the states in Northern Nigeria, amounting to 2,000MW of new power within the next four years.
The President also approved the finalization of a new $1 billion U.S. dollar agreement to bring the Defense Industries Corporation of Nigeria (DICON) to 40% self-sufficiency in local manufacturing and production of defense equipment in-country by 2027.
He said it will be through a comprehensive new partnership with the Managing Arm of the Miltary-Industrial Complex of the Indian Government.
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In the same vein, another Indian firm, Bharti Enterprises, which is a major first-generation corporation in India with interests in telecom, space communications, digital solutions, insurance, processed foods, real estate, and hospitality, further expressed its commitment to invest an additional $700 million in Nigeria, with work set to begin immediately.
The Special Adviser to President Bola Ahmed Tinubu on Media and Publicity, Ajuri Ngelale disclosed in a statement that all these were said during the Nigeria-India Presidential Roundtable and Conference in New Delhi, India on Wednesday.
Ngelale said the Indorama Petrochemical Limited also pledged a new investment of $8 billion U.S. dollars in the expansion of its fertilizer production and petrochemical facility in Eleme, Rivers State.
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According to him, Jindal Steel and Power Limited, one of India’s largest private steel producers, promised to invest $3 billion in Nigeria as a result of discussions had with President Tinubu on the sidelines of the G-20 Summit in India.
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