Cement News tagged under: Nigeria
Loesche wins VRM order for Objana's Line 523 April 2018, Published under Cement NewsLoesche is delivering two vertical roller mills (VRM) for Dangote Cement's Obajana plant's new line in Kogi State, Northern Nigeria. With a total capacity of more than 12Mta, this plant is currently not only the largest cement plant in Nigeria but also the largest cement plant in sub-Saharan Africa. Loesche's order for the new Line 5 in Obajana comprises a high-performance six-roller mill for cement raw meal with a capacity of 580tph – the largest roller mill for raw material in the Loesche... |
Lafarge Africa records sales increase in 201711 April 2018, Published under Cement NewsA NGN33bn (US$105m) write-down on Lafarge Africa’s operations in South Africa and Nigeria resulted in a wider loss for 2017, according to Reuters. The one-off impairment charge resulted in a pretax loss of NGN34.03bn, a 32.9 per cent fall from the loss of the previous year. However, the company’s chief financial officer, Bruno Bayet, said that he expected 2018 to bring growth and that Lafarge Africa’s sales rose 36 per cent last year. "The operations in Nigeria are still very robust and w... |
CEO to list BUA Cement on the Nigerian Stock Exchange05 April 2018, Published under Cement NewsThe founder of BUA Group, Abdulsamad Rabiu, has announced plans to list the cement sector of the company on the Nigerian Stock Exchange (NSE). Abdulsamad Rabiu, recently nominated for African CEO of the year, stated that he would list BUA Cement on the NSE as soon as it meets the necessary requirements, according to an interview on Channels Television. "We are definitely going to list the cement business because I think we should also give others the opportunity to participate in the... |
CCNN record 39% increase in revenue for 201727 March 2018, Published under Cement NewsCement Company of Northern Nigeria (CCNN) Plc has announced a 39 per cent YoY increase in revenue for the full-year 2017 period, to NGN19.59bn (US$54.41) from NGN14.09bn. Despite the cost of sales rising 18 per cent to NGN11.98bn, profit after tax advanced 157 per cent to NGN3.22bn (2016: NGN1.25bn). As a result, the directors of the company have approved a dividend of NGN1.57bn, or 125 kobo per share, for the shareholders. |
BUA Group CEO nominated for African CEO of the year27 March 2018, Published under Cement NewsExecutive Chairman/CEO of BUA Group Abdulsamad Rabiu has been shortlisted as a nominee for the Africa CEO of the year Awards scheduled to be held in Abidjan, Côte d’Ivoire. Within the year under review, BUA Group opened its US$1bn cement plant line 1 and 2 in Obu-Okpella in Edo State, completed the construction of its Sokoto Cement expansion, concluded the construction of its BUA rice mill in Kano State and completed its BUA sugar plant in Port Harcourt. The Africa CEO of the Year Award... |
Dangote receives approval to raise NGN300bn in local-currency bonds22 March 2018, Published under Cement NewsDangote Cement Plc has announced that it received approval from the Securities and Exchange Commission (SEC) and other regulators to raise NGN300bn (US$833m) in local-currency bonds, according to This Day. The bond will be issued in stages of NGN50bn whenever interest rates are favourable. The company plans to use the fund to finance its expansion and refinance its debt. Dangote is expected to spend US$350m on capital projects this year, which includes building export facilities at Nigeria... |
Dangote Cement records 31% revenue increase in 201721 March 2018, Published under Cement NewsDangote Cement Plc has announced its unaudited results for the full-year 2017 period, which show a 31 per cent YoY increase in revenue to NGN805.6bn (US$2.24bn) from NGN615.1bn. Revenue attributable to Nigeria grew by 29.6 per cent YoY, with the sales from the company’s three plants in the country contributing NGN552.36bn. The remaining NGN258.44bn was generated by plants in other African countries, with the revenue of Dangote’s pan-African operations rising 32.5 per cent. Profit after ta... |
LafargeHolcim announces new Middle East/Africa organisation06 March 2018, Published under Cement NewsLafargeHolcim has announced its new organisation for the Middle East and Africa region. "This new organisation will further increase our market focus, our operational performance and support the development and execution of winning market strategies to grow profitable businesses in the Middle East & Africa markets," said Saâd Sebbar, who heads up the company’s MEA Region. The company’s four largest markets will report directly to Mr Sebbar and include the following Country CEO appointment... |
AshakaCem to complete 16MW power plant in 201926 February 2018, Published under Cement NewsNigeria’s AshakaCem (LafaregHolcim group) is constructing a 16MW power station for completion in early 2019. The NGN11bn (US$30.55m) project began in 2017 and is expected to be completed in January 2019, AshakaCem's Managing Director, Rabiu Abdullah Umar, said at a news conference in Gombe. The power plant is also expected to boost the operational efficiency and tackle the high energy cost of the largest industry in Nigeria’s northeast. Umar said the power plant will not only release add... |
Nigeria expected to enter growth cycle06 February 2018, Published under Cement NewsNigeria could be entering the beginning of a growth cycle, suggests research from RMB Nigeria Stockbrokers (RMBNS). Cement consumption has been forecast to increase by seven per cent in 2018, compared with a 17 per cent decline recorded in 2017. Concrete roads and a housing deficit may lead to a 53Mt and 24Mt increase, respectively by 2020. "RMBNS see improving government capex commitment and implementation as well as ongoing public-private partnership infrastructure financing initiatives... |