Cement News tagged under: BUA Cement

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BUA Cement signs contract for third power plant from Wartsila

26 November 2021, Published under Cement News

Nigeria’s BUA has signed an agreement with Wärtsilä for the delivery of a 70MW dual-fuel power plant for its Obu Line 3 project in Edo state. The gas power plant will be the third facility to be commissioned from Wärtsilä, as BUA seeks to increase total production capacity across all locations to 17Mta by 2023. “Currently, we have phased out the use of coal across our factories and are now shifting to gas-powered plants. As we ramp up our capacity, there is need to complement it with effic...

BUA Cement records 23% increase in profit

01 November 2021, Published under Cement News

Nigeria’s BUA Cement has reported a 23.2 per cent increase in profit after tax to NGN65.91bn (US$160.54m) in the first nine months of the year, compared with NGN53.5bn seen in the 9M20. Revenue for the period also increased 19.4 per cent YoY to NGN186.9bn from NGN156.5bn. EBITDA advanced 14.8 per cent YoY in the third quarter of 2021, as the revenue increase accounted for a rise in the cost of sales.

New entrants to help meet Nigeria's increasing cement demand

30 July 2021, Published under Cement News

This week Nigeria has caught attention with announcements of new cement capacity. Not only has Dangote Cement cut the tape on its US$1bn cement plant near Okpella in Edo State, but there has also been an announcement that new entrant Madugu Cement will establish a 5Mta greenfield cement plant in Gombe State. While the country is building its cement capacity at an astonishing rate, cement demand is still outpacing output and the extra capacity is not yet being reflected in lower cement prices...

BUA Cement announces plans for bond sale

07 May 2021, Published under Cement News

Nigeria’s BUA Cement has announced plans to sell a second tranche of bonds under its NGN200bn (US$525.6m) programme to finance its expansion plans, following the release of the first NGN115bn tranche last year. Yusuf Binji, CEO, noted that the amount of the sale will depend on its funding needs but did not give an expected time for the sale. The company plans to expand capacity in the country to 20Mta from 11Mta. "We will only export our excess capacity if the Nigerian market is not able...

BUA Cement sees 19% rise in profit

01 April 2021, Published under Cement News

Nigeria’s BUA Cement has reported a 19.4 per cent rise in profit after tax to NGN72.3bn (US$189.5m) for 2020, compared to NGN60.6bn in the previous year. Revenue also advanced 19.3 per cent YoY to NGN209.4bn from NGN175.5bn. The company has attributed the positive results to its successful business continuity plan, alongside a growing market acceptance of BUA’s product offerings.

Kalambaina Cement to launch second line in July

08 March 2021, Published under Cement News

Nigeria's Kalambaina Cement (BUA Cement) is set to launch its 3Mta second line in July this year, which is expected to increase supply and stabilise the price of cement, according to the company. The plant, based in Sokoto State, is expected to scale-up cement production after commissioning the new line in order to meet the country’s current and projected demand.

BUA Cement sees 19% revenue increase

05 February 2021, Published under Cement News

Nigeria’s BUA Cement has seen a 19.3 per cent increase in revenue to NGN209.47bn (US$549.5m) in 2020, compared to NGN175.51bn in the previous year. Operating profit also climbed 15.5 per cent YoY to NGN82.5bn from NGN71.42bn. Profit after tax also rose 16.3 per cent to NGN70.51bn from NGN60.61bn in 2019.

Rising to the challenge

25 January 2021, Published under Cement News

The COVID-19 pandemic has changed the way we live and the way we work. CBMI has successfully navigated the impact of the crisis by progressing with construction of the Kalambaina Cement Plant Line 3 project for BUA Group in Nigeria, and continuing operation and maintenance contracts for the producer. By Xintao Zhao, Bao Tian, Xiaolong Li, Ban Ding, CBMI Construction Co, Ltd, China. Kalambaina Cement Plant Line 3 site view, pictured in March 2020 Learning to live and work with co...

Nigeria: search for new markets

19 January 2021, Published under Cement News

While Nigerian cement volumes rose sharply in the 3Q20 amid the COVID-19 pandemic, there is limited room for strong volume and price growth. For the oligopolistic domestic cement industry, competitive pressures are a central theme and cost efficiencies remain key. Given challenges locally, new export opportunities could potentially be opening up. By Afrinvest, Nigeria. For Nigeria’s cement industry, competitive pressures remain important despite the sharp rise in domestic volumes i...

BUA Cement sees growth in Nigerian market

08 January 2021, Published under Cement News

This week, BUA Cement completed its NGN115bn (US$291bn) Series 1 corporate bond issue. The company is set on an expansion programme that will result in its production capacity reaching 22Mta by 2022 with three new production units established in Edo, Sokoto and Adamawa states, adding 9Mta to group cement capacity. BUA Cement sees a good opportunity to grow further in its domestic market of Nigeria, despite the presence of Dangote Cement, which has an installed capacity of 29.3Mta in Niger...