BUA to Complete $300m Sokoto Cement Plant

BUA Sugar
  • BUA Set to Complete $300m Sokoto Cement Plant

The BUA Group’s cement subsidiary, CCNN (also known as Sokoto Cement), expects its new 1.5- million-metric-tonnes-per-annum cement plant to be completed before the third quarter of 2017.

This was made known by the Founder/Executive Chairman of BUA Group and Chairman of CCNN, Abdulsamad Rabiu, during a working tour of the plant by the Minister for Solid Minerals Development, Dr. Kayode Fayemi.

Rabiu said that the $300m project, which began a few years ago, was the first expansion of the plant since 1986, with the BUA Group taking over majority shareholding in 2010.

He also informed the minister that the group had discovered coal in commercial quantities, which it intended to use as fuel for a 40-megawatt power plant being constructed as part of the project.

The new cement factory can use both coal and low pour fuel oil, and will meet its power needs from the plant, with the excess electricity generated to be fed to the national grid.

According to Rabiu, BUA’s $300m investment in the new plant is the single largest private sector led investment in the entire North-West region of the country.

He also highlighted the plant’s export potential, with it being located 100 kilometres to the border with Niger Republic and 200KM to the border with Benin Republic, which according to him, will help the country earn much-needed foreign exchange and diversify the economy further.

Fayemi commended the BUA Group and Sokoto Cement for their contributions to various aspects of national development, whilst stating that CCNN was the second-largest employer of labour in Sokoto State, next to the state government.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years experience as a foreign exchange research analyst and trader.

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