A Chinese engineering and construction company, Tiangsu Jialong, has signed a memorandum of understanding with some Nigerian firms to establish a 200 tonnes quarry and asphalt plant in Cross River State, situated in southern Nigeria.

Business Day reports that Cross River State is arguably Nigeria’s largest producer of crushed rock but the absence of asphalt plants increases construction costs across the country.

Eyo E. Nyong, a Nigerian on the board of the Chinese company, said Tiangsu Jialong can easily obtain finance in China to execute the project successfully.

The Cross River State Government has assured the Chinese firm and other prospective investors that their investments will remain safe in the state.