{"id":35767,"date":"2019-10-31T11:03:42","date_gmt":"2019-10-31T10:03:42","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=35767"},"modified":"2019-10-31T11:03:42","modified_gmt":"2019-10-31T10:03:42","slug":"bua-consolidates-cement-business-to-unveil-450m-plant-in-2020","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/bua-consolidates-cement-business-to-unveil-450m-plant-in-2020\/","title":{"rendered":"BUA Consolidates Cement Business, To Unveil $450m Plant In 2020"},"content":{"rendered":"

BUA Group on Wednesday announced the consolidation of its cement business comprising the publicly listed 2million Mtpa Cement Company of Northern Nigeria Plc (CCNN) and 6million mtpaObu Cement Company Plc.<\/p>\n

This disclosure was made in a filing to regulators.<\/p>\n

BUA also announced that its newest 3million metric tonnes cement plant which it started constructing in 2018 \u2013 the $450million dollars SokotoKalambaina II plant, is scheduled for completion in H2, 2020.\u00a0 With the consolidation and addition of the SokotoKalambaina II plant, this will bring BUA Cement\u2019s total installed capacity across all its cement holdings to 11 million MTPA.<\/p>\n

Commenting, Abdul Samad Rabiu, Founder & Executive Chairman of BUA Group, said that this consolidation marks the culmination of the first phase of the BUA mid-term strategic plan for its cement businesses, which currently include four cement plants spread across Obu Cement Company and the Cement Company of Northern Nigeria. A new $450million SokotoKalambaina II Plant is scheduled to come on stream in the second half of 2020 alongside another 48MW power plant to complement the existing assets and take advantage of a growing cement market in Northern Nigeria and the West African region, Rabiu added.<\/p>

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\u201cThis consolidation will cement BUA\u2019s position as the second largest cement producer in Nigeria whilst also positioning it to take advantage of the combined synergies to effectively serve Northern and Southern Nigeria based on the strategic locations of these plants \u2013 as well as a sizeable export market. \u201cWe intend to continue creating value for the benefit of shareholders of the consolidated company by maintaining our focus on outperforming the Nigerian cement industry across key indices through a laserlike commitment to excellent products and service delivery, operational efficiency as well as maintaining our leadership positon in our home markets,\u201d Rabiu said.<\/p>\n

Analysts predict that this will put BUA Cement in a stronger position to compete even better and explore export opportunities in neighboring countries.<\/p>\n","protected":false},"excerpt":{"rendered":"

BUA Group on Wednesday announced the consolidation of its cement business comprising the publicly listed 2million Mtpa Cement Company of Northern Nigeria Plc (CCNN) and 6million mtpaObu Cement Company Plc.<\/p>\n","protected":false},"author":6,"featured_media":35768,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17,624],"tags":[5072],"coauthors":[2391],"class_list":["post-35767","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","category-politics","tag-bua-cement"],"yoast_head":"\nBUA Consolidates Cement Business, To Unveil $450m Plant In 2020 - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/bua-consolidates-cement-business-to-unveil-450m-plant-in-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BUA Consolidates Cement Business, To Unveil $450m Plant In 2020 - 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