New cement company for Nigeria

According to local reports, the Sokoto State Government is planning to institute a N6.8 billion cement company in Kware, Nigeria.

The town of Kware, Sokoto, was selected as the location for the new company due to its extensive limestone reserves. The 100 million t of limestone could potentially supply raw materials to around 10 cement companies in the state.

The State Commissioner for Solid Minerals, Dahiru Maishanu, told local press that the new business venture would be a joint investment with BrewTech Nig. Ltd, consultants and various other investors. Reportedly, the Nigeria Export/Import Bank, NEXIM and various local and foreign investors will supply 50% of the funding, 20% will come from the government, the consulting firm will contribute around 10% and a further 20% will be provided by another Nigerian investor.

Edited from various sources by Rosalie Starling

Read the article online at: https://www.worldcement.com/africa-middle-east/31012014/new_cement_company_for_nigeria_679/