Cement News tagged under: Nigeria

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Lafarge WAPCO's debt reduction plans

17 May 2013, Published under Cement News

Lafarge WAPCO plans to pay off a NGN6bn (US$40m) in local debt this year, according to reports by Reuters.   The company owes about NGN28.4bn (US$180.43m) in total loans, of which NGN6bn is from Nigerian banks, Fred Amobi, its chief financial officer told analysts at a conference call. He said Lafarge WAPCO had a three-year bond worth NGN11.6bn and a loan from a Nigerian development bank of NGN10.8bn  in addition to the bank loans.   Lafarge WAPCO, reported  recorded a 50 per cent rise in it...

Lafarge Wapco pretax profit rises over 20%, Nigeria

08 May 2013, Published under Cement News

Lafarge Wapco's first-quarter pretax profit rose by 20.64 per cent YoY to NGN7.19bn (US$45.5m), compared to NGN5.96bn in the same period of last year. Revenues rose to NGN23.32bn compared to NGN22.61bn in the comparative period of 2012, it said in a filing with the Nigerian Stock Exchange. Lafarge Wapco operates three adjacent plants in Ewekoro in Ogun State, southwest Nigeria, with a capacity of 4.5Mta folliwng a capacity increase programme in 2011 and 2012. As well as its 60 per c...

Siemens to supply Edo Cement with gas turbines, Nigeria

07 May 2013, Published under Cement News

Siemens Energy has been awarded an order for three of its model SGT-500 gas turbines to Edo Cement for a new plant being constructed by the BUA Group in Nigeria. The order marks the first deliveries of such units to the southwest African country. These industrial turbines will be deployed for electric power generation for the Okpella Cement Factory in Okpella, a city located in the Nigerian state of Edo, providing the added benefit of low emissions. "This turbine is currently undergoin...

Dangote sees strong start to second quarter, Nigeria

02 May 2013, Published under Cement News

Nigeria’s largest cement producer, Dangote Cement, has said strong demand in April is likely to help boost second-quarter revenue to NGN98.5bn (US$623.3m). However, the start-up of its long-awaited plant in Senegal  is facing further delays due to land issues. Dangote said in a statement that pretax profit is expected to reach NGN50.6bn (US$320m). First-quarter net income rose 81 per cent to NGN53.7bn as volumes rose by 38 per cent. “The year has begun well for Dangote Cement and our 38 p...

Dangote Cement Update

30 April 2013, Published under Cement News

Recorded at the recent Cemtech MEA 2013, DVG Edwin gives an update on the regional expansion and project status of Dangote Cement (Nigeria).

Dangote Cement net profit boosted by increased capacity

25 April 2013, Published under Cement News

Dangote Cement Plc, Nigeria’s largest cement producer said full-year profit gained 24 per cent attributed to increased capacity improving sales. Net income for the year through December advanced to NGN149.6bn (US$941.8m) from NGN120.9bn earlier, the company said in an e-mailed statement.  Revenue rose 24 per cent to NGN298.5bn. Chairman Aliko Dangote, said new capacity accounted for a 20 per cent increase in sales. “By the end of 2012 we were preparing to make Nigeria an exporter of c...

Lafarge Nigeria pretax profits more than doubles

28 March 2013, Published under Cement News

Lafarge's Nigerian unit, WAPCO, said its full-year pretax profit more than doubled to NGN21.26bn (US$134.26m), compared with NGN10.34bn  a year ago. Turnover also rose to NGN87.96bn during the period, from NGN62.50bn a year ago, it said. Lafarge WAPCO, a listed company in which Lafarge has a 60 per cent share, operates three adjacent plants in Ewekoro in Ogun State in southwest Nigeria with 4.5Mta of capacity, following a capacity increase programme in 2011 and 2012.

MoU signed for new mini cement plant in Nigeria

21 March 2013, Published under Cement News

Sokoto State Government has signed a Memorandum of Understanding (MoU) with Brewtech Nigeria Ltd, to establish a mini cement company in the state. The project is expected to have a capacity of 300tpd, rising to 900tpd at its peak. ThisDay press reported that the project will be a collaboration between the state government, Brewtech and some private investors. It will be partly financed by the Nigerian Export-Import Bank (NEXIM) and the Sokoto state government will take a 20 per cent stake.

Nigeria considers new tariff on imports to protect local producers

19 March 2013, Published under Cement News

The Nigerian government is considering imposing a new tariff on imported bulk cement following an influx of volumes which are said to have caused a glut in the market. The current duty on imported bulk cement is 10 per cent, but no levy is imposed on the commodity. Dr Olusegun Aganga, Minister of Trade and Investment, said during a meeting with select ministers on Nigerian business competitiveness organized by the Nigerian Economic Summit Group. According to reports by local press, D...

Unicem to invest US$500m in new line, Nigeria

11 March 2013, Published under Cement News

United Cement Company (UNICEM) has said it plans to spend US$500m on a second line at it cement works in Nigeria and will boost investments going forward amid an increasingly competitive operating environment. Speaking in an interview with local press, executive director, Javier De Benito, said the project for line No 2 at its 2.5Mta Mfamosing works, is still ongoing and the company is currently working on administrative issues. However, he underlined that management are very keen for thi...