Coscharis Motors, one of Nigeria’s leading auto marketers has begun construction of $55 million auto assembly plant in Lekki, Lagos, for the production of Jiangsu Joylong and MG brands. The plant is for Complete Knock Down parts, CKD.
The construction work on the new plant started in January this year and is scheduled to be completed in December 2015 . According to the company, the new assembly plant was in compliance with the federal government’s new auto policy which encourages stakeholders to set up auto plants to boost employment for the youths.
The Group Managing Director, Coscharis Group, Mr. Josiah Samuel, while briefing newsmen on the new plant, explained that for close to three years, they had been in discussion with their partners Jiangsu Joylong Automobile of China and had finally concluded agreement with them as Original Equipment Manufacturers, OEM, organisation for the project.
He added that Joylong will provide necessary backup for the project in Nigeria.
According to Mr. Samuel, Coscharis had also concluded agreement with Dongfeng Design Institute Co. Ltd, a company well-known in China for its world class auto factory design management, to design and manage the project.
He disclosed that Dongfeng has designed over 40 modern auto plants both within and outside China.
Though the plant is designed for the production of Joylong and MG brands for now, the Group Managing Director explained that it is a multi-brand plant which can produce any vehicle brand.
Coscharis Motors represents Jaguar/Land Rover, BMW, Ford, MG, Rolls Royce and other Chinese auto brands in Nigeria. The assembly plant, which sits on 14 acres of land, on completion will turn out 13,000 vehicles annually on an eight hours single shift and with capacity to produce 26,000 vehicles annually, including buses, cars and trucks.
Restating his company’s support for a viable auto industry in Nigeria, Mr. Samuel called for an extensive study on why the earlier plants in the country failed.
According to him “Coscharis is willing and ready to support in developing the Nigerian auto industry in meeting its potentials, hence, our proposal to move once again to set up an automotive plant of world standards in Nigeria.”
He disclosed that the idea of CKD plant was conceived by his company three years ago but couldn’t be realised for reasons beyond their control but that with the new auto policy, it had become imperative to revisit it.