Nigeria: Nigerian conglomerate BUA Group has signed US$600m worth of contracts with China's Sinoma International Engineering Co. to double capacity at its flagship cement plant as it seeks to expand market share in Africa's biggest economy.
BUA plans to double the capacity of its Obu cement plant which currently has a capacity of 3.5Mt/yr, with completion expected in 2017. The contract was signed at Sinomas offices in China.
Executive chairman Abdulsamad Rabiu said, "BUA has less than 10% of the market share now but afterwards we should go to about 20%. Rabiu said that BUA, like Nigeria's largest cement producer Dangote Cement, was planning a continent-wide expansion.