Peugeot Citroen is set to commence the assembling of cars in Nigeria by early next year under the Dangote-Peugeot Automobile Nigeria Limited (DPAN), according to reports.
A joint venture of PSA Peugeot Citroen, Dangote Group and five state governments in Nigeria will lead to the assembly of about 3,500 cars in 2019.
An advisor to the Kaduna State Governor, Jimi Lawal, confirmed to Reuters yesterday that the assembly plant will indeed commence operation between January and March 2019.
Lawal said: “The first vehicle should come out by the first quarter of next year. We are hoping that the factory will be completed by December. The land has been identified … we have advertised for a contractor that will build the factory.”
The assembling plant will be located in Kaduna, North western Nigeria.
DPAN will commence operations with ₦3.5 billion equity and about $5 million-worth of working capital, while there are plans to raise additional capital.
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