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'Lagos Free Zone in talks with Tata, TVS, Bajaj for investments'
September 26, 2023
|Mint Mumbai
The Lagos Free Zone (LFZ), a privately owned free trade zone in Nigeria, is in talks with Indian conglomerates, including Tatas, TVS and Bajaj, for investments, said Navin Nahata, managing director for fintech and infrastructure at the Singapore-based Tolaram Group, which is the promoter for the trade zone.
In an interview, Nahata said that talks with some companies are at an advanced stage. The LFZ is looking to attract Indian investment in segments such as consumer goods, pharmaceuticals and chemicals. He added that the LFZ was in talks with generic drug manufacturers for investments. The zone has been marketed as a foothold for Indian firms to expand their presence in a major African market, with the possibility of exporting to the American market. This comes against the backdrop of growing commercial linkages between India and Africa, with bilateral trade expected to cross $100 billion. Edited excerpts:
What is the progress in attracting Indian investment in the free zone?
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