Cement News tagged under: BUA Cement

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BUA sees jump in profit following new plant

25 April 2022, Published under Cement News

BUA Cement increased sales in the 1Q22 by 58.5 per cent to NGN97bn (US$233.4m) following the commissioning of its new 3Mta Kalambaina Line 4 . Other income surged seven times to NGN186m on the back of insurance claims, which represented 88.7 per cent of the income class. In addition, the management reduced net finance costs by 96.5 per cent. Post-tax profit increased by 48.2 per cent to NGN33.1bn when compared with the 1Q21. Profit margins stood at 34.2 per cent. BUA Cement expects to...

BUA Cement fire results in loss of three lives

22 March 2022, Published under Cement News

The management of BUA Cement PLC at the weekend announced a fire incident that occurred at a diesel storage tank farm situated in the vicinity of one of its plants in Sokoto . The company in a statement signed by Sada Suleiman, assistant director of Admin Services, said the incident occurred while routine maintenance work was ongoing on one of the storage tanks by a third-party contractor. However, it explained that immediately the incident occurred, its emergency management and mit...

BUA Cement brings Kalambaina Line 4 online

28 January 2022, Published under Cement News

On 27 January Nigerian President Muhammadu Buhari inaugurated BUA Cement ’s 3Mta Line 4 at the company’s Kalambaina cement plant in Sokoto, Nigeria. "I am pleased that through these investments, BUA Cement has created employment opportunities for our citizens. Today, BUA is the largest employer of labour in the North-west region,” he said. The president recounted that in 1985 as the then Head of State, he was at the same location to commission the second line of the Sokoto plant. "Tod...

Kalambaina Cement sees successful start-up of Line 3 project

20 December 2021, Published under Cement News

Sinoma CBMI has announced the successful start-up of its EPC project for Kalambaina Cement (BUA) in Sokoto, Nigeria. Work on the 3Mta Line 3 began in the 2Q19 and carried on throughout 2020 and 2021. Sinoma has now begun works on Line 4 for the same site. Kalambaina Cement Line 3

BUA Cement announce passing of company secretary

16 December 2021, Published under Cement News

The Board and Management of BUA Group regret to announce the passing of Ahmed Aliyu (1975-2021),  company secretary and chief legal adviser of BUA Cement Plc.  Ahmed was also the company secretary for BUA Cement Plc.

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.