Lekki Free Zone Attracts $300M New Investment

The quest to attract more investors into Lagos State received a major boost with the coming of a $300 million steel manufacturing plant to be sited in the Lekki Free Zone, under the Lekki Free Zone Development Company (LFZDC).

The agreement to build the plant was sealed with the signing of a Memorandum of Understanding (MOU) between LFZDC led by Zhang Bin, managing director, and Bayo Adelore, manager director, FINCON Capital Partners, at the zone’s office, Ibeju Lekki recently.

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Witnessing the signing ceremony, Folashade Ambrose-Medebem, Lagos State commissioner for commerce, cooperatives, trade & investment, described the development as a milestone investment that will further consolidate the business landscape of Lagos as she commended the management of the zone for the feat.