Global Smartfit Nigeria Ltd., a local footwear design and manufacturing company signed a N7billion joint venture partnership to set up a world-class footwear factory with Indian footwear maker, Prosafe International today.
The venture partners disclosed this during a visit to the headquarters of the Nigerian Investment Promotion Commission (NIPC).
The factory, which is located around the outskirts of Nigeria’s Federal Capital Territory, Abuja, will have the duo engage in the production and distribution of footwear and other personal protective equipment (PPE) for local sales and export.
Under the JV agreement sighted by NIPC Intelligence, Prosafe will contribute its expertise and knowledge in the establishment of the plant and its smooth operations, establishing necessary facilities for training and skill development, testing facilities, R&D facilities, designing the facility and 45% of the value of the machinery.
The Managing Director/Chief Executive Officer, Global Smartfit, Ogonna Okonkwo, in his remarks said the mega factory will kick off in six months with world-class infrastructure for the production of complete footwear starting from the upper to final parts.
“To make this happen, we are partnering with a world-class footwear manufacturer who has extensive knowledge and experience in producing and delivering world-class footwear made from the most advanced materials and processes,” he said.
The mega factory will kick off in six months with world-class infrastructure for the production of complete footwear starting from the upper to final parts.
Similarly, Managing Director, Prosafe, Satish Verma, expressed confidence in his Nigerian counterpart.
“Global Smartfit is one of the pioneers in the field of footwear production and distribution in Nigeria,” he said.
“We will be generating our power from an independent power source and would deploy the direct injection process method in the production of our footwear – the latest technology in the industry,” said Verma.
NIPC’s Acting Executive Secretary/CEO, Emeka Offor, while commending the partnership assured the firm of the Commission’s support.
