As demand for construction continues to grow in Africa due to infrastructure development underway, Chinese machinery manufacturer XCMG plans to open a plant on the continent.
The manufacturer is on an expansion drive that will also see it opening factories in other parts of the world.
Addressing members of the press from different African countries, XCMG’s assistant president Liu Jiansen said the manufacturer is expected to arrive at a final decision after identifying the location.
“Instead of exporting machinery to Africa due to the ever growing demand for heavy machinery for construction, there is need to open a plant in Africa. There is this probability and we are seeking for some suitable place as well as adorable policy.
For us, the next hero is Africa; as such we are focusing on it a lot. The potential is huge for the continent’s development economically. This is what industries need as the market is big enough, worth investment but there’s a lot to be considered,” said Jiansen.
In January this year, China’s largest construction equipment company with an annual turnover of $13 billion, set up a Greenfield manufacturing facility in India.
“We are growing and spreading across the world. We have since discussed with several countries on the continent like Ghana, Egypt, Nigeria and Algeria but it’s not finalized. Of course, we also have our requirements for this to be successful,” he explained.
XCMG boasts reliable and durable products with high technology and the company is becoming more visible in Africa. Last year, Africa’s richest man, Aliko Dangote through his company bought a 1250 tonnes Crawler Crane, making him the biggest customer on the continent.