The Ibeto Group of Companies is reportedly to build a US$500m cement manufacturing industry in Ebonyi State, Nigeria. Chairman and chief executive officer of the company, Chief Cletus Ibeto, revealed this to newsmen in Abakaliki after he had taken the Minister of Industries, Chief Fidelis Tapgun, round the site for the industry .
Ibeto explained that the company is expected to commence operations in 2009 with initial workforce of about 3000. He explained that he had left the Inyaba area of the state where they earlier proposed to site the industry having seen another place in the state with more deposit of limestone.
Ibeto said the proposed industry would be as big as the Nigercem, with his company, being the major investor, the Ebonyi State government and people partnering with their foreign investors in the venture.