Benue plans new cement company, Nigeria

Benue plans new cement company, Nigeria
Published: 04 November 2008

Despite the teething problems facing the Benue state government-owned Igumale Cement Company in Ado local government area, Governor Gabriel Suswam has laid the foundation stone for another cement company at Mbatiav near the Benue Cement Company (BCC), Gboko.

Speaking at the ceremony, the governor said the cement company would be built by Fanison International Nigeria Limited at the cost of $299m.

Suswam said the project would take three years to be completed and announced that it would be funded 100 per cent by Fanison International Nigeria Limited through the Build, Operate and Transfer (BOT) method of establishing industries.

He explained that the cement company would be run by the firm for seven years after which the state government would take over and estimated the production capacity to be 1Mta.