New cement plant in Nigeria gets Ministry go-ahead

Lafarge West Africa has reportedly signed an MoU with the Engu State Commissioner for Commerce and Industry, Nigeria, which paves the way for a new cement plant to commence operations next year.

Speaking on behalf of the state, Dr Jude Akubilo told press that the initial delay in getting the plant off the ground was the expiration of its license, which has now been renewed. The Ministry is keen to attract local and international investors to the project.

Elsewhere, Nigeria’s Dangote Cement Plc recently released its results for 1H13, which saw an almost 30% increase in sales y/y. The cement manufacturer, which has proved to be one of Nigeria’s greatest success stories, plans further expansion across Nigeria and abroad. The company estimates a domestic market share of about 62%.

Meanwhile, the Nigerian Federal Government and the African Development Bank, together with key drivers of the Nigerian Transformation Agenda, recently held a high-level policy dialogue to discuss the nation’s infrastructure development. Up for debate was the Infrastructure Action Plan, which will reportedly require an investment of US$350 billion over a ten year period, and the National Integrated Infrastructure Master Plan (a project of the National Planning Commission), which projects a US$2.9 trillion investment in infrastructure over a 30-year period in order to bridge the infrastructure gap. The future of the cement industry certainly looks bright.

Written from various news sources by Katherine Guenioui.

Read the article online at: https://www.worldcement.com/africa-middle-east/05082013/new_cement_plant_as_nigerian_industry_grows_91/