Chinese firm signs MoU with Imo on gas investment opportunities

A leading Chinese green industry enterprise Elion Resources Group on Saturday signed a Memorandum of Understanding (MoU) in Nigeria as part of its exploration of investment opportunities in the country.

The area of focus will be in desertification control, agriculture and development of new energy resources. A delegation of the group led by Wang Wenbiao, its president, met and signed the MoU with the government of Imo State in the country’s southern region.

Both parties expressed their readiness to unlock and harness the potential of natural gas resources to increase domestic and industrial power supply, raise people’s living standard and support sustainable economic growth and diversification.

According to Wang, the investment exploration in Nigeria followed the success of the Forum on China-Africa Cooperation (FOCAC) summit in Beijing last month, in which China proposed green development as part of eight new initiatives to strengthen and broaden cooperation with Africa.

Source: CGTN

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