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Indian major auto/tech coy to build factory in Aba

Greaves Cotton Limited, an Indian diversified engineering company and a leading manufacturer of Cleantech Powertrain Solutions (CNG, Petrol and Diesel Engines), generator sets, farm equipment, e-mobility, after-market spares and services is set to invest in Aba, Abia State. The General Manager- Sales and Marketing International Business, South-East Asia of Greaves Cotton Limited, Nikunj Rathod told journalists in Aba that the agreement between the Geometric Power Limited and African Export-Import Bank (Afreximbank), which is designed to ensure 24 hours electricity is what attracted them. New Telegraph reports that on November 15, in Durban, South Africa, Afreximbank signed a US$50 million Term Loan facility with Geometric Power Limited in connection with the Aba Integrated Power Project. It was gathered that the facility provided by Afreximbank to Geometric Power Limited would finance the initial capital required to acquire rights to the Aba Ring Fenced Area. Besides, it is also expected to support the completion of remaining works, and the commissioning and commencement of operations of the Aba Integrated Power Project.

 

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