Nigeria’s BUA Cement plans to set up a mega plant in the Northeastern Adamawa State in furtherance of the company’s business expansion program, Chairman Abdulsamad Rabiu has said. BUA is the country’s second-largest cement maker by volume – after Dangote Cement – with a combined installed capacity of 8 million metric tonnes per annum from its operations in Okpella, Edo State and Kalambaina in Sokoto State. It has plans to increase existing capacity to 11 mmtpa, through the commissioning of a new 3 mmtpa plant in Sokoto, expected to be operational by the first half of 2021, while the planned Guyuk Cement Plant will bring the company’s total capacity to 14 million metric tonnes yearly. BUA Cement became a publicly-listed company in January following the conclusion of the merger of two of BUA’s cement entities – the Cement Company of Northern Nigeria and the Obu Cement company. It has a market capitalization of ₦1.18 trillion ($3.3 billion), making it the third most capitalized company on the Nigerian Stock Exchange.

Source: The North Africa Journal July 07, 2020 12:33 UTC