Cement News tagged under: Nigeria
Cement Co of Northern Nigeria reports 48% drop in quarterly profit11 July 2012, Published under Cement NewsCement Company of Northern Nigeria Plc has reported a 48 per cent drop in first-quarter profit. Net income for the three months through March declined to NGN268m (US$1.7m) from NGN511.4m a year earlier, the Sokoto, northern Nigeria-based company said in a statement yesterday. Revenue was relatively flat at NGN3.1bn. |
Dangote to be issued with Zambian mining licence, Zambia10 July 2012, Published under Cement NewsAn advisory committee set up by the Zambian government is to meet within the next two weeks and issue a mining licence to Dangote Cement of Nigeria. The delay to the issuance has resulted in delays to construction of Dangote’s 1.5Mta cement plant in Zambia’s Masaiti District on the Copperbelt. However, the Mines, Energy and Water Supply Permanent Secretary Victor Mutambo has now said the advisory committee would be sitting in the next two weeks and would issue Dangote Industries with the ... |
Dangote Cement to improve distribution network, Nigeria25 June 2012, Published under Cement NewsThe management of Dangote Cement said it was reviewing its distribution network to ensure availability of the product by creating wider access for its customers. The company said that this would not only ensure price stability but also guarantee availability of product at the most reasonable price. Devakumar Edwin, Group Managing Director of Dangote Cement, said that at the height of skyrocketing cement prices, the company had acquired 5000 trucks to boost its logistics and pave the way f... |
Lebanon demand falls, brighter times anticipated22 June 2012, Published under Cement NewsDespite a slowdown in current market activity, a bright future lies ahead for Lebanon’s cement industry, according to the chief of one the country's leading producers. Speaking, to The Daily Star, Pierre Doumet, CEO of Cimenterie National, admitted that domestic consumption has been falling as well as demand from export markets due to regional instability and eurozone economic concerns. “We expect the demand on the local market to recede by at least 15 per cent,” he said, noting that e... |
New Nigerian plant to begin production soon18 June 2012, Published under Cement NewsCement production at the Igumale Cement Factory in Nigeria is to commence this month, according to local press reports. The 600,000tpa cement factory situated in Benue State, is a joint venture between the state government and a Chinese partner Zhengzhou Cangxi and Commerce Development Company Ltd. The project, was initiated in 2001, is to be completed in “due course” according to Commissioner for Commerce and Industries, Hon. Terfa Atoza Ihindan. (Source: The Leadership). |
Dangote targets US$35bn-40bn London listing, Nigeria14 June 2012, Published under Cement NewsNigerian billionaire Aliko Dangote is targeting a market capitalisation of US$35-$40bn for his cement company when he lists it in London next year, he told Reuters on Wednesday. "It depends on the market, but it should be something like US$35 to $40bn. We are targeting something like that," Dangote said of the secondary listing in London that is planned for late next year. Africa's richest man with a cement empire stretching from Senegal to South Africa, Dangote said in an interview at his... |
Dangote commissions Obajana Line 3, Nigeria12 June 2012, Published under Cement NewsAliko Dangote has commissioned the expansion of his Obajana cement plant, raising capacity to 10.5Mta. The additional 5.25Mta line is part of the company’s efforts to make it a powerhouse of African production as it aims to reach 50Mt of capacity across the continent by 2015. Dangote said that this recent investment in this new Line No 3 at the Obajana plant situated in Kogi state, raises the company’s domestic capacity in Nigeria to 28Mt. Nigerian president Goodluck Johnson preside... |
Nigeria comes of age30 May 2012, Published under Cement NewsFew countries in sub-Saharan Africa can hope to see their cement industry growth change so dramatically as in Nigeria, where cement capacity has been rising at a staggering rate. With a huge population estimated at 167m and a low cement per capita, the country has been somewhat groomed for such a rampant development phase and the signs are that by the end of this year or next, it will have a cement surplus to export. By Oluwatosin Ojo, Vetiva Capital Management, Nigeria. Ibese Cement ... |
Dangote’s Calabar plant nears completion, Nigeria29 May 2012, Published under Cement NewsDangote Cement’s 6Mta plant in Calabar, Cross-River state is expected to be completed in July, Alhaji Aliko Dangote Chairman of the company has said. Mr Dangote said the plant was almost completed and will be ready within 60 days. Its strategic location means that it will serve the domestic market of Nigeria as well as nearby markets such as Cameroon and Gabon. He added that with the planned expansion of the Ibese cement works (Nigeria)with another two 3Mta lines, the 11 June commissio... |
Lafarge WAPCO to establish a bag manufacturing company, Nigeria29 May 2012, Published under Cement NewsLafarge WAPCO is poised to establish a bag manufacturing firm in Nigeria to facilitate the packaging of its products. Chairman of Lafarge Cement WAPCO, Chief Olusegun Osunkeye, explained the company was being established in partnership with bag manufacturing experts who have been packaging Lafarge Plc's products worldwide. According to Mr Osunkeye arrangements are in the final stage for the company to commence operations, noting that it would take care of the company's packaging needs. H... |