The group's spokesman also said the partnership is a result of President Buhari’s trip to China.
According to Cornel Osigwe, the spokesman of Innoson Group, $400m will be used to launch a Digital TV Station, and $600m will be invested in other key sectors of the economy.
Osigwe also revealed that the Vice-President, Yemi Osinbajo, will on Monday, October 25, 2016, receive the Chinese investors led by Liu Baoju, Deputy Minister of Communist Party of China.
Baoju will also be accompanied by Huang Gang, Senior Vice President of Inspur Group, China’s leading cloud service provider.
The auto makers also said the partnership is a result of President Buhari’s trip to China.
Osigwe said “The partnership will result in the establishment of 40 lines of production and manufacturing complex for making Broadcast Digital setup boxes, the biggest of its kind in the whole of Africa.
“Also, 5000 jobs will be created in the Innoson Group setup box manufacturing complex in Nigeria within the next two years.”
He added that “Nigeria will also become the manufacturing hub for setup boxes in Africa with the attendant benefit of earning foreign exchange through exports from Innoson Manufacturing Complex.”
He said “Another important benefit is that the Project will engage the almost under-utilised Nigerian Communication Satellite (NIGCOMSAT) situated at Obasanjo Space Centre in Abuja.
“The move is aimed at saving foreign exchange by buying into Nigeria available goods and services, instead of importing transponders like other providers do."
The Innoson spokesman also added that the Digital TV project is in-line with the Federal Government’s desire to move from Analogue to Digital broadcasting by June 2017.
Osigwe, while highlighting the benefits of the multi-million Dollar IT investment in Nigeria, said it will facilitate E-policing, seamless cloud solutions for tertiary institutions.
Innoson Vehicle Manufacturing (IVM) recently partnered with the Nigerian Air Force (NAF) to manufacture spare parts for its fighter jets.