Skip to main content

Ashaka Cement loses billions to Boko Haram attacks

Published by , Editor
World Cement,


AshakaCem Plc, based in northeastern Nigeria, has reportedly lost more than N4.5 billion due to attacks on its cement plant in Gombe State by Boko Haram. The plant has been robbed and vandalised, losing personnel and machinery, as well as deliveries of ammonium sulfate. Market demand has naturally also fallen, given the unrest.

The security situation in the region has led to work on the plant expansion project being delayed, but the company is still keen to go ahead with this work and to expand its business throughout the northeastern region.

Local government has requested that the company prioritise local employment and CSR efforts, such as building schools, hospitals and drinking water facilities. LafargeHolcim, which owns the company, has approved a new project to provide affordable housing for people displaced by the insurgency.


Edited from various sources by

Sources:

Read the article online at: https://www.worldcement.com/africa-middle-east/16112015/ashaka-cement-loses-billions-to-boko-haram-attacks-1/

You might also like

The World Cement Podcast - CleanTech & Venture Capital

Our guest for this episode of the World Cement Podcast is Alfredo Carrato, Venture Capital Advisor for CEMEX Ventures. Listen in to the conversation as World Cement's Senior Editor, David Bizley, and Alfredo discuss the role of venture capital and cleantech in enabling the cement industry's green transition.

Tune in to the World Cement Podcast on your favourite podcast app today.

Apple Podcasts  Spotify Podcasts  YouTube

 
 

Embed article link: (copy the HTML code below):