Nouvelle Cimenterie du Bénin (Nocibé) is to construct a 1.5Mta cement plant in Benin, company CEO Latfallah Layousse, said. A contract for the new plant was signed on Friday, according to local press reports.
The Nocibé plant will be established in the town of Massa, about 50 miles east of Cotonou, the capital of Benin. Nocibé is led by Groupe Layousse of Ciment de Sahel (Senegal).
Units of Ecobank Transnational Inc. and Societe Generale SA are among five banks giving a loan of CFA170bn (US$336m) to build the plant, according to the country’s Finance Minister Adidjatou Mathys. The West African Development Bank, Bank of Africa Group and the Islamic Bank of Senegal are the other lenders, she said.
Benin currently has three cement production units with a capacity of 1.42Mta and enjoys the participation of Lafarge, HeidelbergCement and Dangote.