According to local press reports, the Cement Company of Northern Nigeria (CCNN) intends to invest N45 billion in the construction of a 1 million tpa clinker line and a coal grinding mill. The company’s Chairman made the announcement at CCNN’s 34th annual general meeting. CCNN hope that the investment will help reduce its dependence on fuel oil, the high cost of which affected the cement producer’s profit in 2012. Profit after tax declined from N2.3 billion in 2011 to N1.2 billion in 2012. However, the company’s turnover increased from N13.9 billion to N15.1 billion.
Edited from various sources by Louise Fordham
Read the article online at: https://www.worldcement.com/africa-middle-east/23082013/cement_company_of_northern_nigeria_to_invest_in_new_clinker_line_123/