Upon completion, this will bring the firm’s total capacity
to 20 million metric tonnes by 2022. At 9million tonnes combined capacity, this
is the single largest contract ever awarded in the Nigerian cement industry for
the construction of new cement plants at the same time and by a single company,
in Nigeria.
These three new plants are in addition to BUA Cement’s already existing 6mmtpa plants in Edo State, 2mmtpa plants in Sokoto State and another 3mmtpa BUA Cement plant in Sokoto— which will be commissioned in Q2 2021.
He noted that “Nigeria and the surrounding region is still
home to huge opportunities in construction, housing, infrastructure, and allied
industries.
“Despite these opportunities, there is no doubt that there
is still a huge deficit in supply while demand continues to increase in
Nigeria.
“This situation has led to an increase in the retail prices
of cement despite ex-factory prices remaining partially unchanged.
“To bridge this huge deficit gap in Nigeria and in the
absence of new major investments in the industry, we have taken this decision
to invest and build these new plants at a total project cost of1.05 billion
dollars, which will be completed by the end of 2022.”
In his comments, Mr. Tong Laigou, Chairman of SINOMA CBMI,
praised the longstanding partnership between BUA and CBMI.
He said SINOMA CBMI was pleased to work with BUA on this
huge project and help in its aspiration to be the best cement manufacturer in
Africa.
He further added that CBMI would bring their expertise and
wealth of experience working in this environment to bring the project to
completion on schedule.
BUA Cement Plc is Nigeria’s second-largest cement company
and the largest producer in its North-West, South-South and South-East regions.