Chi Farms Nigeria Limited, a Tropical General Investments Group subsidiary, is planning a $2.5bn livestock investment, following a recent visit from Brazilian meatpacking company JBS and the Nigerian Investment Promotion Commission at its facility along the Lagos-Ibadan Expressway in Ogun State in south-western Nigeria.
Chi Farms said in a statement that it took a step towards the $2.5bn investment plan in collaboration with the Nigerian Government.
The initiative, according to the company, aims to transform the Nigerian meat processing sector by establishing six new factories and bolstering the Nigerian livestock value chain.
It added that the delegation, led by the Executive Secretary/Chief Executive Officer of NIPC, Aisha Rimi, included the Head of International Expansion at JBS, Fabio Maia, and an expert in poultry and swine, Osorio Dal Bello.
The report by Punch newspaper stated that the delegation was received by the Managing Director of Cormart and Chi Farms Nigeria Limited, Martin Middernacht; Executive Director of Cormart and Chi Farms, Dr. Johannes Flosbach; Director of Corporate Affairs at TGI Group, Sadiq Kassim; and Head of Corporate Communications at TGI Group, Rafiat Gawat.
“During the visit, Chi Farms showcased its integrated operations in poultry breeding, aquaculture, and meat processing.
“The company also highlighted its expertise in constructing integrated poultry facilities as a representative of Big Dutchman, a global poultry equipment manufacturer, in West Africa.
“The company also highlighted its expertise in constructing integrated poultry facilities as a representative of Big Dutchman, a global poultry equipment manufacturer, in West Africa,” the report added.
GIK/APA