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BUA Cement Seeks Loan To Expand Company In Sokoto

BUA Cement Seeks Loan To Expand Company In Sokoto

BUA Cement Seeks Loan To Expand Company In Sokoto 

BUA Cement Seeks Loan To Expand Company In Sokoto

In order to secure a loan for the expansion of BUA Cement’s integrated cement plant in Kalambaina, Sokoto State, Nigeria, the company has stated that it is in talks with the International Finance Corporation (IFC), acting as lead arranger in conjunction with a number of other lenders in a syndication pool.

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This information was provided by the cement company in a statement acknowledged by the deputy company secretary Hauwa Garba Satomi.

The business thinks the new plant will help it go from 2.0 million tons per year (MTPA) to 8.0 MTPA in terms of capacity.

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BUA Cement Seeks Loan To Expand Company In Sokoto 

In order to secure a loan for the expansion of BUA Cement’s integrated cement plant in Kalambaina, Sokoto State, Nigeria, the company has stated that it is in talks with the International Finance Corporation (IFC), acting as lead arranger in conjunction with a number of other lenders in a syndication pool.

ALSO, READ Higginbotham Acquires Brown & Company Insurance Services, Texas.

This information was provided by the cement company in a statement acknowledged by the deputy company secretary Hauwa Garba Satomi.

The business thinks the new plant will help it go from 2.0 million tons per year (MTPA) to 8.0 MTPA in terms of capacity.

What they are saying

It company stated, “In furtherance of our disclosure obligations pursuant to Chapter 17 of the Rulebook, BUA CEMENT PLC (BUA CEMENT or the COMPANY) hereby notifies Nigerian Exchange Limited (NGX), its esteemed Shareholders and the investing public that the Company has gone into a discussion with the International Finance Corporation (IFC), serving as lead arranger in conjunction with a number of other lenders in a syndication pool, to obtain a loan for the expansion of BUA Cement’s integrated cement plant in Kalambaina, Sokoto State, Nigeria. It shall include increasing its capacity from 2.0 million tons per annum (MTPA) to 8.0 MTPA, and the development of other ancillary utilities (the Expansion Project).”

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  • BUA Cement reported a profit of N33.14 billion during the period, representing a 48.18% increase year-on-year.
  • From the company’s result, the revenue from the sale of cement during the period increased by over 58%, as cost of materials appreciated by 66% from N9.14 billion in Q1 2021, to N15.18 billion in Q1 2022.

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IBEH C. JOE

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