Jospong Group expands waste management in Nigeria with €40 million deal

The Jospong Group of Companies (JGC), through its subsidiary Zoomlion Nigeria Limited, has signed a major export agreement with German-based companies FIMA Industries GmbH and Faun Umwelttechnik GmbH. This deal marks a significant expansion of Zoomlion’s waste management capabilities in Nigeria.

Facilitated by funding from Euler Hermes, Germany’s export credit agency, and Oddo BHF Bank, the partnership will bolster Zoomlion’s position in the waste management industry by combining its expertise with FIMA’s cutting-edge technology. The agreement is expected to promote sustainable practices and reduce waste across Africa.

The signing ceremony took place in Lagos, Nigeria, on October 7, with representatives from the Federal Republic of Germany in attendance. Haider Said, Executive Director of Environment and Sanitation at Zoomlion, disclosed that the contract, valued at around €40 million, will fund the procurement of three waste treatment plants in Lagos. “This project aims to make a significant impact on environmental preservation, with an expected reduction of about 1.5 million tons of CO2 emissions annually,” he added.

Markus Maierhofer, CEO of FIMA Industries, emphasized the significance of the project, describing it as a “game-changer” for Lagos State, which will reduce waste and help recycle compost to keep the environment clean. “We are ready to invest about €10 million in mechanisms for the waste treatment plant to make this project possible,” Maierhofer added.

Lucas Doerr, Head of Business Development Export at Faun Umwelttechnik GmbH, detailed the waste management process, which involves collecting waste, transferring it to recycling plants, and then disposing of it at engineered landfills. He expressed optimism for future accomplishments, thanking the Lagos State Government for their support.

The Jospong Group plans to invest around $200 million in Lagos State over the next 12 to 24 months for waste management initiatives.