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.