Cement News tagged under: nigeria
Dangote Cement attracts substantial investment24 January 2024, Published under Cement NewsDangote Cement has become the first company to be valued at NGN10trn (US$11.76bn) on the Nigerian stock market. The company’s share price advanced by 9.99 per cent on 22 January 2024 to close at NGN592.60 per share, giving the company a market value of NGN10.1trn. The news follows an NGN6bn investment in Dangote Cement by Femi Otedola, a Lagos-based billionaire. Mr Otedola told Nigerian media that the move was part of his overall strategy to ensure long-term wealth preservation and und... |
Bedeschi wins order for four complete storage lines23 January 2024, Published under Cement NewsA China-based EPC company has appointed Bedeschi to supply four complete storage lines for a Nigerian cement producer. Through the intense activity of the office Bedeschi Far East in Hong Kong, Bedeschi finalised the supply of 18 machines in the following storage systems: • two lines for handling wet and sticky limestone and shale, including trippers, bridge stackers and bridge bucket reclaimers • one line for handling laterite, including a tripper, a travelling stacker and a side b... |
RIGA wins maintenance deals with Lafarge Africa09 January 2024, Published under Cement NewsRIGA has been awarded for two maintenance contracts with Lafarge Africa Plc in Nigeria for two cement plants. The first contract is for the Mfamosing Cement plant in Calabar City. The second maintenance contract is for second the Ewekoro Cement plant (64km from Lagos), also in Nigeria. |
BUA Cement confirms 2024 cement prices29 December 2023, Published under Cement NewsChairman of the BUA Group, Nigeria, Abdul-Samad Rabiu, has confirmed cement prices will be held at NGN3500 per bag (US$3.90) from January 2024. He said the company would make the product accessible and affordable to customers, despite various challenges. NGN3500 per bag is the ex works price, and does not include VAT or transportation costs to the customer. |
BUA's Sokoto Line 5 begins production20 December 2023, Published under Cement NewsProduction has begun at Line 5 of BUA Cement ’s Sokoto plant. The 3Mta expansion project forms part of the company’s plans to not only expand its production capacity but also bring down cement prices in Nigeria. In October this year BUA lowered its ex-factory cement price to NGN3500 (US$4.55)/bag, with the company announcing plans to review its prices even further in the opening quarter of 2024, reports The Capital. The new line at Sokoto takes BUA’s total cement production capacity c... |
A new era for Nigeria05 December 2023, Published under Cement NewsNigeria’s new president signals the dawn of a new era as the west African country aims to address long-standing macroeconomic imbalances. The domestic cement sector continues to add additional capacity in view of long-term market potential, but a number of stumbling blocks need to be overcome before latent demand is realised. By Moses Waireri Njuguna, EFG Hermes, Nigeria. The inauguration of Nigeria’s new president is heralded as a new era for Nigeria as the country aims to address... |
Sephaku Holdings' profit eroded by rising costs14 November 2023, Published under Cement NewsSephaku Holdings (Sephold) reported revenue of ZAR626.6m (US$33.44m) in the six months ended 30 September 2023, marking a 19.7 per cent YoY improvement. However, net profit after tax over the same period declined from ZAR26.7m to ZAR19.7, while headline earnings per share fell from 11.26 cents to 7.54 cents, reports IOL. According to the company, although activity in the construction industry improved, particularly in the civil construction and non-residential sectors, the rising cost... |
Lafarge Africa reduces CO2 emissions through AF use10 November 2023, Published under Cement NewsLafarge Africa has reduced is CO 2 emissions from 595kg CO 2 /t in 2021 to 574kg CO 2 /t in 2022 through the use of alternative fuels and energy-efficient technologies. According to the company’s 2022 Sustainability Report, its global thermal substitution rate in 2022 stood at 13.5 per cent, compared to 9.4 per cent in 2021, reports This Day. Prince Adebode Adefioye, chairman, Lafarge Africa, said, “I am delighted to present Lafarge Africa Plc’s latest Sustainability Report, highligh... |
Inauguration of Sokoto plant expansion by January 202403 November 2023, Published under Cement NewsBUA Cement has revealed its plan to inaugurate its Sokoto plant expansion by January 2024. Abdulsamad Rabiu, the Chairman of BUA Group , made this announcement during his visit to Governor Ahmad Aliyu in Sokoto this week. Mr Rabiu said that the company was diligently working to ensure the new plant, currently under construction in Sokoto state, Nigeria, would be ready for the inauguration. He informed the governor that during his meeting with President Bola Tinubu in Abuja he ... |
BUA Cement increases revenues by 28% in 9M2331 October 2023, Published under Cement NewsBUA Cement has released its 9M23 results and posted revenue of NGN335,863m up 27.9 per cent from NGN262,598m in 9M22. Operating profit increased from NGN99,245m in 9M22 to NGN119,683m in 9M23, up 20.6 per cent. Profit after tax for the 9M23 reached NGN76,065m up from NGN74014m in 9M22. Plant expansion at the Obu and Sokoto plants are ongoing with commissioning scheduled for the 1Q24 which will bring the company’s total cement capacity in Nigeria up to 17Mta. |