Expansion in Nigeria
Lafarge Cement Wapco Plc has publicised plans to invest an additional €1 billion over the next three to five years on expansion programmes in Nigeria. The company previously invested around €1 billion in its Nigerian operations between 2009 and 2012.
Guillaume Roux, Lafarge Country CEO, Nigeria and Benin Republic, told press in Abuja that the investment would enable the company to complete the expansion of its facilities in Calabar and Ashaka and increase production capacity.
Increasing production capacity in Zimbabwe
Lafarge is additionally looking at investing some US$20 million in the refurbishment of its existing cement plant in Zimbabwe, in order to boost volumes and meet the needs of the domestic and export markets. The upgrade is due for completion next year and will increase the plant’s production capacity from 70% to 90%.
Jonathan Shoniwa, Chairman of Lafarge Cement, told local press that the investment formed part of the company’s short-term strategy to increase cement output and sales volumes. Over the past few years, Lafarge has spent approximately $US 5 million every year on plant upgrades and refurbishments.
Shoniwa noted that the company's long-term strategy will focus on the construction of a new plant to complement the existing one. Feasibility studies are currently being conducted on the long-term projects.
Edited from various sources by Rosalie Starling
Read the article online at: https://www.worldcement.com/africa-middle-east/28022014/lafarge_to_increase_investment_in_nigeria_and_zimbabwae_823/
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