Nigeria: Globe Motors Rolls Out U.S.$150 Million Auto Plant Next Month

Lagos — Globe Motors Nigeria, says it has concluded plans to roll out its $150 million (N29.55 billion) auto assembly plant next month in Lagos which has the capacity to produce 6,000 vehicles annually at the start.

Chairman of Globe Motors Holdings, Mr. William Anumudu, told journalists in Lagos that over 10,000 jobs would be created indirectly as a result of the multiplier effect of the plant and that the company would start with the production of Semi Knockdown parts (SKD) and later graduate to completely knockdown parts (CKD) for Hyundai, Higer and a Globe Motors brands.

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