The Defence Industries Corporation of Nigeria (DICON) has entered into a US$13 million public-private partnership (PPP) based on the “Build, Operate and Transfer” model with Sur Corporate Wear of Turkey for the establishment of a modern integrated military and paramilitary apparel and accessories factory at the Defence Industry Complex in Kaduna State, Nigeria.
This initiative will involve SUR revamping, upgrading and managing the existing facilities of DICON, building a new state of the art cotton milling plant and a machine yard. When fully operational, the facility will meet the apparel requirements of the Nigerian Armed Forces, Security Agencies and other paramilitary organizations
Templars is pleased to have advised Sur Corporate Wear of Turkey on this landmark transaction which will not only increase the country’s GDP by encouraging local production but will also reduce the country’s reliance on foreign textile raw materials and finished goods, save foreign currency, provide employment to Nigerians and revitalize the moribund Nigerian textile industry.
The Templars team that worked on the transaction was led by Partner, Inam Wilson and supported by Senior Associates Moses Pila and Oyeyemi Aderibigbe.