BUA in talks with China’s Sinoma for steel, cement plants

BUA in talks with China’s Sinoma for steel, cement plants

Thursday, February 18, 2016 7:55 pm


A BUA cement factory in Edo state

A BUA cement factory in Edo state

Nigerian conglomerate BUA Group is in talks with China’s Sinoma to build a steel plant in Nigeria and two cement plants in East Africa for $1.9 billion, its chairman said.

Abdulsamad Rabiu told Reuters the two cement plants, which will have an annual capacity of 3 million tonnes each, will cost $700 million. The steel plant will have a capacity of 1.2 million tonnes and will cost $1.2 billion.

 

Join The Conversation

What do you think?

This site uses Akismet to reduce spam. Learn how your comment data is processed.

    • The Latest


    Dr Abdullahi Ganduje 39 mins ago

    Re: Ganduje and the Legal Challenges Facing APC
    DJ Switch 2 hours ago

    Dramatic! How famous #EndSARS campaigner DJ Switch was arrested in Lagos
    VP Shettima recived a delegation from the Commonwealth Enterprise Investment Council (CWEIC) led by its CEO, Rosie Glazerbrook 3 hours ago

    Nigeria Will Become Major Global Economic Force Under President Tinubu – VP Shettima
    Yahaya Bello 5 hours ago

    Court bars EFCC from arresting ex-governor Yahaya Bello
    President Tinubu and Pa Reuben Fasoranti 13 hours ago

    President Tinubu tells Afenifere leaders: We must help vulnerable people by providing social security, allowances for the unemployed
    14 hours ago

    No Court Can Prevent EFCC from Prosecuting Ex-Governor Yahaya Bello for Alleged Theft of N84b
    Imo State Governor, Sen. Hope Uzodimma with Miss Obinwenne Angel, Ist runner up of Teen Queen Nigeria Beauty Pageant 2024 who paid a courtesy visit to the Governor in his office yesterday 17 hours ago

    Uzodimma urges youths to pursue dreams relentlessly  
    L-R: Minister of Environment, Dr Balarabe Lawal; Minister of Women Affairs, Mrs Uju Kennedy-Ohanenye; and Minister of Budget and Economic Planning, Senator Abubakar Bagudu,  during the launch of the National Guidelines for Women and Girls Empowerment for Optimal Nutrition,  in Abuja on Tuesday 18 hours ago

    Photo News: For Women and Girls Empowerment…