Cement News tagged under: Nigeria

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Mangal Industries Ltd performs plant groundbreaking ceremony

18 July 2022, Published under Cement News

Mangal Industries Ltd has performed the groundbreaking ceremony of a greenfield cement plant in Iluagba, Kogi State, Nigeria. Mangal Industries had signed a US$600m deal with Sinoma International Engineering, of China, for the construction of a 3Mta cement plant and a 50MW captive power plant in Kogi State. Mangal Industries Ltd's Managing Director, Engr Fahad Mangal said shortly after the ceremony that the project is expected to be completed by the end of the 1Q24. According to him...

Dangote volumes up 4% in 1Q22

06 May 2022, Published under Cement News

Dangote has reported a 24.2 per cent YoY increase in group revenue to NGN413.2bn (US$995.4bn) in the opening quarter of 2022. Group EBITDA over the same period advanced by 18.6 per cent to NGN211bn giving a margin of 51.1 per cent. Sales volumes for the group fell by 3.6 per cent YoY to 7.2Mt as operations relying on cement and clinker imports, namely Ghana, Sierra Leone and Cameroon, were disrupted by global supply chain issues. Profit after tax in the 1Q22 advanced by 18 per cent YoY to re...

BUA sees jump in profit following new plant

25 April 2022, Published under Cement News

BUA Cement increased sales in the 1Q22 by 58.5 per cent to NGN97bn (US$233.4m) following the commissioning of its new 3Mta Kalambaina Line 4 . Other income surged seven times to NGN186m on the back of insurance claims, which represented 88.7 per cent of the income class. In addition, the management reduced net finance costs by 96.5 per cent. Post-tax profit increased by 48.2 per cent to NGN33.1bn when compared with the 1Q21. Profit margins stood at 34.2 per cent. BUA Cement expects to...

Lafarge (Wapco) Cement Plc records profit of NGN17.55bn in 1Q22

25 April 2022, Published under Cement News

Nigeria’s third-largest cement producer, Lafarge (Wapco) Cement Plc , has released its 1Q22 unaudited results reporting a profit of NGN17.55bn (US$42.2m) during the period, representing 92.2 per cent YoY increase. Revenue growth for the period reached 26.8 per cent YoY. Sales of cement increased by 26 per ent achieving sales of NGN87.99bn, and sales of aggregates and concrete grew by 62.29 per cent, generating NGN2.52bn during the period. Mortar sales also increased by 60.41 per cen...

BUA Cement fire results in loss of three lives

22 March 2022, Published under Cement News

The management of BUA Cement PLC at the weekend announced a fire incident that occurred at a diesel storage tank farm situated in the vicinity of one of its plants in Sokoto . The company in a statement signed by Sada Suleiman, assistant director of Admin Services, said the incident occurred while routine maintenance work was ongoing on one of the storage tanks by a third-party contractor. However, it explained that immediately the incident occurred, its emergency management and mit...

Dangote: powerhouse of Africa and Nigeria

08 March 2022, Published under Cement News

Through the use of financial ratio analysis, this month’s Technical Forum examines how Dangote Cement – the powerhouse of Africa and Nigeria – has managed to achieve a strong and sustained financial performance. Dr Clark looks at why Dangote Cement is right at the top of the range of performance for cement companies The benchmarking of a cement factory and cement company performance remains a major part of Whitehopleman and Dr Clark’s work. When such benchmarking exercises are b...

Dangote Cement reports group revenue of NGN1383.6bn in 2021

03 March 2022, Published under Cement News

Dangote Cement reported that for the year ended 31 December 2021, group revenue reached NGN1383.6bn (US$3.327bn), up 33.8 per cent on 2020. The group recorded a record EBITDA of NGN684.6bn. Pan-African EBITDA totalled NGN88.8bn, a rise of 24.6 per cent. Net debt reached NGN225.1bn. In total, manufacturing costs increased by 25.8 per cent to NGN551bn from NGN437.9bn in 2020. Materials consumed cost increased by 30 per cent to NGN175.4bn, while fuel and power cost advanced by 34.4 per cent ...

Mangal Industries selects Sinoma to build 3Mta cement plant

17 February 2022, Published under Cement News

An indigenous Nigerian firm, Mangal Industries had signed a US$600m deal agreement with Sinoma International Engneeering of China for the construction of a 3Mta cement plant and 50MW captive power plant in Mopa, Kogi State, Nigeria . The factory will rely on the best available technology for cement production and in line with the highest environmental standards and scheduled to be completed in early 2024.

Nigeria’s hamstrung potential

20 December 2021, Published under Cement News

Rapid cement capacity build-up over the last two decades and further new additions on the way mean that by next year, Nigeria will have the second-largest installed capacity in Africa. However, while the country’s long-term demand outlook is immense, EFG Hermes explains why massive potential is currently being hamstrung by a sluggish domestic economic outlook. By Moses Waireri Njuguna, EFG Hermes, Kenya. Capacity increase in Nigeria is a means for some players to position themselves f...

Kalambaina Cement sees successful start-up of Line 3 project

20 December 2021, Published under Cement News

Sinoma CBMI has announced the successful start-up of its EPC project for Kalambaina Cement (BUA) in Sokoto, Nigeria. Work on the 3Mta Line 3 began in the 2Q19 and carried on throughout 2020 and 2021. Sinoma has now begun works on Line 4 for the same site. Kalambaina Cement Line 3