Cement News tagged under: nigeria
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... |
Nigeria: Gboko cement plant reopens11 February 2013, Published under Cement NewsThe reopening of Dangote Cement plant Gboko in Benue state on 1 February 2013 by the management came as a relief to the people of the state, especially those who earn their daily bread from the company. The factory, which was closed down last year as a result of the glut in the domestic cement market, said it will operate at half capacity for now. The decision to reopen the plant was reached immediately after a meeting between President Goodluck Jonathan and the Chairman of Dangote Cement,... |
Nigeria's Flour Mills to borrow to double cement capacity11 February 2013, Published under Cement NewsFlour Mills of Nigeria plans to borrow between US$400m-500m to construct a new cement plant which will double its existing 2.5Mta capacity, its chief finance officer said. Jacques Vauthier told Reuters the conglomerate had appointed financial advisers and banks to raise a term loan from the local market for the construction of the plant. He said the details of the loan were still being finalised. The new cement plant will be completed by 1Q16, Vauthier said. Nigeria's biggest cement firm ... |
Dangote Cement reopens Gboko plant, Nigeria04 February 2013, Published under Cement NewsDangote Cement has resumed operations at its Gboko plant in Benue State, Nigeria, due to strong demand. The company closed the plant in December because of a glut in the market caused by cheap, imported cement being sold in the area it serves. “We are reopening Gboko immediately,” Carl Franklin, the London-based head of investor relations, said in a statement. “Demand has been strong since the beginning of the year.” "Since the shutdown of the Gboko Cement Plant, the government has ... |