Hyundai Heavy Industries to to build $7 bln shipyard in Nigeria
Nigerian President Goodluck Jonathan on Thursday hailed South Korea’s Hyundai Heavy Industries’ decision to build a multi-billion dollar shipyard that can employ 2,000 locals in Nigeria.
The completion of the facility next year will boost Nigeria’s economic development and create jobs for the local population, a statement from his office quoted Jonathan as saying at a meeting with the company’s president, Jai-Seong Lee.
More than 30 million Nigerians, or 20 percent of the population, are unemployed, according to recent official figures.
“Hyundai has a long-standing relationship with Nigeria. You have always played a key role in our economy, especially our oil industry. We appreciate what you have done and are elated by your latest investment,” the president said.
Lee said that on completion, the first phase of the Shipyard in Brass, in Jonathan’s Bayelsa home state, will provide employment for at least 2,000 Nigerians, the statement said.
South Korean firms are major players in oil, manufacturing and automobile industries in the west African nation.
AFP
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