Nigerian BUA to invest $1.9 billion in cement and steel
Thursday, 18 February 2016 17:57
(Ecofin Agency) - The Nigerian group BUA recently revealed that it was negotiating with the Chinese firm Sinoma CDI regarding cement and steel projects. According to Reuters, BUA and its associate will invest $1.9 billion in the construction of a steel plant in Nigeria and in two cement plants in Eastern Africa.
The business mogul Abdulsamad Rabiu, owner of BUA group, said the two cement plants will cost $700 million overall and each will have a production capacity of 3 million tons/annum. As for the steel plant, it will cost $1.2 billion and produce 1.2 million tons yearly.
The state-run company Sinoma is the global leader in terms of engineering and equipment in the cement industry.
Aaron Akinocho
Live News
-
New Gas Filling Plant in Bamenda Cuts Domestic LPG Prices by 18%
21:54
-
Cameroon’s Kribi Port Triples Capacity with Launch of Second Container Terminal
21:41
-
Togo Sets May 20 Deadline for Municipal Election Candidates
19:49
-
Togo Begins Climate Finance Capacity Building Meeting
19:37
-
Afrobarometer: 54% of Togolese Want Togo to Join Sahel Alliance
19:31
-
Faure Gnassingbé Opens African Union Debt Conference in Lomé
19:24
-
Lucara Battles Revenue Decline, Endangering $683 Million Botswana Project
18:45
-
Guinea: Siguiri Gold Mine’s Output Up 67% in Q1 2025, YoY
18:25
-
Crisis in the PGM Market: Ivanhoe Bets on Diversification at Platreef Mine
18:05
-
Allied Gold Increases Côte d’Ivoire Gold Output by 5% in Q1 2025, YoY
17:59
Tanzania will now require all local transactions to be priced and paid in Tanzanian shillings. ...
U.S. plans to slash 2026 foreign aid by $49.1 billion, targeting global health, education, ...
• MTN to distribute 1.2 million 4G smartphones at $5.42 for prepaid users.• Move supports South...
BCEAO’s gold assets jumped 38% in 2024 to CFA2530 billion ($4.37 billion) Over 90% of the r...
Prices for energy, metals, fertilizers, and food are expected to drop in 2025 and 2026, according ...
In Kumasi, the historic capital of the Ashanti Kingdom in Ghana, traditional buildings stand as living testaments to the cultural legacy of one of West...
Just over 50 kilometers from Johannesburg, South Africa, lies Maropeng—the visitor center for the Cradle of Humankind, a UNESCO World Heritage Site and...
Each year, across various regions of Côte d’Ivoire—particularly among Akan communities such as the Baoulé, Agni, and Abron—the Yam Festival (Fête des...
Algeria summoned France’s chargé d’affaires over the irregular posting of 15 agents. The diplomatic dispute follows expulsions, visa blocks, and rising...
A marketing expert by trade, he leverages his skills to support businesses. With a passion for both music and technology, he also developed a platform...
In Kumasi, the historic capital of the Ashanti Kingdom in Ghana, traditional buildings stand as living testaments to the cultural legacy of one of West...