Cement News tagged under: Nigeria

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Lafarge Africa Plc orders Loesche coal mill

03 September 2018, Published under Cement News

Lafarge Africa Plc  (LafargeHolcim) is erecting a new Loesche coal mill at its Ewekoro cement plant in Nigeria. The new mill will grind local lignite and petcoke. The mill has a grinding capacity of 23tph at 23 per cent R90μm for coal and 16tph at three per cent R90μm. The scope of services include engineering, core mill components and the classifier with central feed, rotary gate and the mill gearbox with a nominal power of 450kW.

Two Nigerian producers to raise capital funding of NGN250bn

31 August 2018, Published under Cement News

Nigerian cement producers Dangote Cement Plc and Lafarge Africa Cement Plc have launched new capital raisers which are scheduled to conclude in 4Q18. Dangote Cement is raising NGN150bn (US$413.8m) in debt capital and has already obtained NGN50bn of this new debt capital. According to the company, the net proceeds will be used to finance capital expenditure, working capital and corporate purposes. Meanwhile, Lafarge Africa's shareholders have approved a resolution to raise more than NGN...

CCNN appoints new managing director

15 August 2018, Published under Cement News

Cement Company of Northern Nigeria has named Yusuf Binji as its new managing director, with effect from 1 September 2018. He succeeds Ibrahim Aminu who joins the larger BUA group as an executive director. Mr Binji is currently managing director of Obu Cement Co, a subsidiary of BUA Cement in Okpella, Edo state, Nigeria –  a position he has heard since February 2017. “As managing director at BUA Obu Cement, he was responsible for overseeing extensive growth in production volumes and sales, ...

CCNN appoints new independent directors

01 August 2018, Published under Cement News

The Cement Co of Northern Nigeria (CCNN) has announced the appointment of Senator Khairat Abdulrazaq-Gwadabe and Shehu Abubakar as independent directors of the company. Effective from 12 July, the appointment also includes Abbas Ahmad Gandi as a non-executive director. Abdul Samad Rabiu, chairman of the CCNN board of directors, has reportedly stated that the installation of new board members is in line with the company’s commitment to the best corporate governance practices, according to T...

Nigeria’s CCNN sees profit after tax more than double

30 July 2018, Published under Cement News

The Cement Co of Northern Nigeria (CCNN) reported a revenue of NGN19.588bn (US$54.2m) in 2017, representing a 31.6 per cent rise when compared with revenues of NGN14.088bn of the previous year. CEO of the BUA Group, CCNN’s parent company, Abdul Samad Rabiu, attributed the rise to improved cement prices and efficient cost management. Gross profit in 2017 reached NGN7.605bn, nearly double the NGN3.936bn recorded in 2016. Profit after tax increased from NGN1.254bn in 2016 to 3.224bn one ...

Dangote Cement 1H18 revenues of NGN482.4bn

23 July 2018, Published under Cement News

Dangote Cement Group reported 1H18 unaudited revenues of NGN482.4bn (US$1.33bn), up 16.9 per cent and group EBITDA up 20.8 per cent at NGN246bn. Joe Makoju, group CEO, commented on the company's 1H18 results: "Our first-half performance was very strong and driven by an excellent recovery in Nigeria, where our sales volumes increased by nearly 14 per cent and revenues rose by more than 18 per cent. Pan-African operations saw a slight fall in volumes but both revenues and EBITDA increased b...

Nigeria's cement market shows no let-up

23 July 2018, Published under Cement News

Nigeria is pushing its production full-throttle as cement demand begins to race ahead. Dangote Cement is revelling in high 1H18 sales volumes and competing cement companies are building new capacities to increase their market share. "Our first-half performance was very strong and driven by an excellent recovery in Nigeria, where our sales volumes increased by nearly 14 per cent and revenues by more than 18 per cent," said Joe Makoju, Dangote's Group CEO. Dangote Cement's total sales...

BUA Group to commission 1.5Mta plant in Nigeria

17 July 2018, Published under Cement News

BUA Group is set to commission its 1.5Mta Kalambaina plant on Tuesday, 12 July. At a cost of US$350 million, it will be the largest single private sector-led investment in northwest Nigeria. The facility features a high-capacity coal mill and a multi-fuel plant. The plant is expected to generate 2000 jobs and improve the country’s exchange with Niger and Benin, according to the Daily Trust. It will also increase the company’s total Nigerian capacity to 6Mta, which is 35 per cent of the tota...

Ibeto Group completes planning stages of two new plants

16 July 2018, Published under Cement News

Nigeria’s Ibeto Group has announced that its project with Sinoma to construct two cement plants in Nkalagu and Effium, Ebonyi State, has concluded the planning stages. The first factory will be situated adjacent to Nigerian Cement Co’s Nkalagu plant and have a 9000tpd capacity, according to Cletus Ibeto, CEO, Ibeto Group. "We are not going to remove anything from the old plant but set up the new one beside the moribund factory," said Mr Ibeto. "We will also commence another plant in Effi...

Dangote to list in London in 2019?

09 July 2018, Published under Cement News

Dangote Cement is considering carrying out its long-planned listing of shares in London after the Nigerian presidential and parliamentary elections on 16 February 2019 and state government elections in March as it intends to expand through acquisitions, according to a report in Business Day. "We are working on it and we’ll look at it in 2019," Edwin Devakumar, group executive director at Dangote Industries, said. "We have grown to this extent mostly via greenfield investments. To grow muc...