on MAY 31, 2011 · in NEWS

Abuja – An indigenous company, BUA Group, has embarked on the building of a $500 million cement plant at Okpella community in Edo.

The plant, when completed, would produce 2.5 million tonnes of cement annually.

The Executive Chairman of BUA Group, Alhaji Abdulsamad Rabiu, announced at the contract signing ceremony for the building of the plant on Tuesday in Abuja that the building of the “Edo Cement Plant’’ would be completed in August, 2013.

“The building of the Edo Cement will take 28 months to be completed and it is expected to offer jobs to 4,000 skilled workers and over 20,000 indirect jobs to Nigerians,’’ Rabiu stated.

He explained that the management of BUA Group settled for a Danish company known as FLSmidth to build the plant, saying that the establishment of the facility was to assist the country to attain self-sufficiency in cement production.

The industrialist said that the company expected that the plant would generate mass employment for teeming Nigerians.

It was learnt that the financing of the project is to be provided by FLSmidth and a consortium of banks led by EcoBank, which has since provided an initial 50 million dollars for the take off of the plant’s construction.

Other banks in the consortium are First Bank, Diamond Bank, Fin Bank and Bank PHB.

The President of the Cement Manufacturing Association of Nigeria, Mr Joseph Makoju, lauded the management of BUA Group for the investment, saying that the plant would contribute significantly to the quest of the Federal Government to make Nigeria a cement-exporting nation.

He lauded the government for its back-integration policy in the cement sector, saying that the policy would assist in the effort to reduce the high cost of cement and other building materials in the country.

Makoju expressed delight at the involvement of the Danish firm to build the plant, recalling that the company had been involved in the building of many thriving cement plants in Nigeria.

The Vice President of FLSmidth, Mr Per Mejnert Kristensen, gave an assurance that his company would complete the building of the plant on schedule while commending the Federal Government for providing the atmosphere for foreign direct investment.

He said that his firm had been involved in the building of many cement plants in Nigeria, assuring that the company would build a facility Nigerians would be proud of.

The price of cement has continued to rise in the country, making it difficult for many Nigerians to own their own houses. (NAN)

http://www.vanguardngr.com/2011/05/bua-group-builds-500m-cement-plant-at-okpella/

Good for Edo State.

the north investing in the south

13volts:

the north investing in the south

Fear go let am invest am for north? , make them use bomb scatter the whole thing.
Anyway, Okpella has high deposit of lime stone which is the basic raw material for cement manufacturing. It is very very economically wise to situate the comapany close to the base of the raw material.

There was a cement factory in Okpella along Okene - Agbor Road. The factory was owned by Bendel state. I wonder if that factory still operates or if this new factory is a resuscitation of the old one. Either way, I hope they deliver quickly and come up with reasonable price for cement to enable poor people build their own homes.

Na d bendel state cement factory - BUA buy oh. Dis people dem want to buy d whole tin in naija. Dangote and him pple

Private investors run business far better than the government. It is better they buy everything than allow the wole thing rot away. If it will take Dangote's buying Ajaokuta steel to make it work, then he should be allowed to buy it.