- Ngelale seeks partnerships for climate action
Sinoma International Engineering Company, a leading subsidiary of the CNBM Group, has expressed strong interest in siting its renewable energy technology manufacturing industry in Nigeria’s Evergreen City.
The Chairman, Mr. Yin Zhisong, hosted Nigeria’s Special Presidential Envoy on Climate Action (SPEC), Ajuri Ngelale, to a dinner reception in Beijing, where the potential partnership was discussed.
Sinoma’s interest in Evergreen City is a significant vote of confidence in President Bola Tinubu’s green industial vision for Nigeria.
“After a long journey to Beijing from Accra over the weekend, Nigeria’s endeavour to achieve value chain localization in renewable energy technology manufacturing took a significant step forward as I was hosted by the Chairman of Sinoma International Engineering Company, Mr. Yin Zhisong, to a dinner in the Chinese capital.
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“A leading subsidiary of the CNBM Group, which boasts $85 billion in assets under management, 200,000 employees, 11,000 patents, and 26 R&D Institutes, Sinoma expressed strong interest in siting its formidable renewable energy technology manufacturing industry in Evergreen City as a strong demonstration of their belief in H.E. President Bola Tinubu’s green industrial vision. It was a productive and memorable introductory session,” Ngelale said.
The company’s proposed investment would bring its formidable renewable energy technology manufacturing capabilities to Nigeria, boosting the country’s efforts to achieve value chain localization in the sector.
With $85 billion in assets under management, 200,000 employees, 11,000 patents, and 26 R&D Institutes, Sinoma’s involvement would be a major catalyst for Nigeria’s renewable energy ambitions.
In a related development, the SPEC joined a virtual discussion with a combined technical team from the U.S. Department of Energy and the U.S. State Department to discuss Nigeria’s development of a circular economy and a new initiative to co-create industrial clusters and consumer credit-tied financing packages.