Cement News tagged under: Nigeria
Dangote sees strong start to second quarter, Nigeria02 May 2013, Published under Cement NewsNigeria’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 Update30 April 2013, Published under Cement NewsRecorded 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 capacity25 April 2013, Published under Cement NewsDangote 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 doubles28 March 2013, Published under Cement NewsLafarge'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 Nigeria21 March 2013, Published under Cement NewsSokoto 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 producers19 March 2013, Published under Cement NewsThe 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, Nigeria11 March 2013, Published under Cement NewsUnited 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... |
BUA cement plant set for 2014 completion, Nigeria22 February 2013, Published under Cement NewsBUA’s new 3Mta cement plant, currently under construction in Edo State, Nigeria, is on track for completion in early 2014, according to the group’s chairman. Alhaji Abdulsamad Rabiu, told reporters at a signing with Siemens to build a new gas turbine power plant for the factory, that the company is impressed with the current progress of the overall project. "I am particularly very impressed so far by the civil construction work done by [Nigerian contractor] Julius Berger. 70 per cent o... |
Nigeria: managing the surplus18 February 2013, Published under Cement NewsEarlier this week United Cement Company of Nigeria Ltd (Unicem) became the latest domestic producer to announce a new round of investment as it aims to double capacity by 2016. But with the country's recent drive to increase volumes resulting in the present-day overcapacity situation, particularly in the southwest, how will the market deal with the situation and what measures are producers taking to manage the surplus? The last two years have seen Nigeria come of age, at once becoming sel... |
Nigeria: Lafarge wins excellence awards12 February 2013, Published under Cement NewsLafarge Cement WAPCO Nigeria Plc has won nine awards for excellence from different stakeholders and organisations in the past year. The awards span different keys areas in which the company has made significant impact. The awards include: best risk management business unit, NSITF-NECA workplace safety award, highest dividend growth stock for the year, best media-supporting corporate organisation and best cement company of the year. Commenting on the various recognitions the company has rec... |