GE Eyes $1B Investment In Nigerian Manufacturing Plant

Law360, New York (February 1, 2013, 6:07 PM EST) -- General Electric Co. on Thursday pledged to pour more than $1 billion into the development of a Nigerian factory, giving a boost to the manufacturing sector in a country seeking alternatives to energy production in order to stimulate and diversify its fast-growing economy.

The funding commitment will be divvied up over the next five years, kicking off with a $250 million investment to be followed up over the next half-decade with $800 million in spending on goods and services, labor and staff training, GE said. GE CEO...
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