Displaying items by tag: Nigeria

Nigeria: Holcim plans to sell Lafarge Africa to China-based Huaxin Cement for an equity value of US$1bn. The Switzerland-based building materials producer owns an 83% share of the subsidiary. The transaction is expected to close in 2025 subject to regulatory approvals.

Lafarge Africa operates four integrated cement plants in Nigeria at Sagamu and Ewekoro in Ogun State, at Mfamosing in Cross River State and the Ashaka Cement plant in Gombe State. It has a combined production capacity of 10.5Mt/yr. The company also holds a ready-mixed concrete production capacity of 0.4Mm3/yr. Its local recycling subsidiary, Geocycle, reported an alternative fuels thermal substitution rate of 37% in 2022.

Nigeria: Lafarge Africa has unveiled a Mathematics Masterclass for Senior Secondary School students from both public and private schools across Ewekoro and Sagamu Local Government Areas, where the company’s manufacturing plants are located. The company explained that the initiative, which was part of its corporate social responsibility efforts, aimed to address the high failure rates in mathematics and science subjects among students in its host communities.

At events held separately in Sagamu and Ewekoro, Lolu Alade-Akinyemi, CEO of Lafarge Africa, emphasised the importance of mathematics as a key subject, stating “Mathematics is a fundamental subject that unites science and humanities. This is a major reason for why Lafarge is investing in it. We want to help students to improve in this subject and to better equip them for the future.”

Nigeria: Lafarge Africa has launched a new alternative fuel and raw material (AFR) platform at its Mfamosing cement plant in Cross River State, with the aim to reduce its CO₂ emissions. The facility will replace traditional fossil fuels with alternative energy sources derived from non-recyclable materials, according to the Nigerian Tribune.

Nigeria: ABC Haulage, the heavy-duty vehicle division of ABC Transport, has expanded its operations at one of Lafarge Africa's cement plants by introducing a new fleet of compressed natural gas (CNG) powered vehicles. Victor Nneji, head of innovation & strategy at ABC Transport, said that adopting CNG technology has reduced operating costs by reducing dependency on diesel. This expansion increases the company’s capacity at the unnamed plant by 250,000t/yr.

Nigeria: Dangote Cement has recorded a 0.6% year-on-year rise in profit to US$163m for the first nine months of 2024. Revenue increased by 69% year-on-year to US$1.5bn, driven by price adjustments, up from US$885m in the same period in 2023. Gross profit also rose, up 36% year-on-year from US$568m to US$774m. The company has commissioned 11 out of 17 alternative fuel projects and recently integrated 1500 compressed natural gas trucks into its fleet in an attempt to reduce costs.

Nigeria: Dangote Cement has exported 14 shipments of clinker from Nigeria to Ghana and Cameroon as part of its strategy to boost foreign exchange inflows, reports Business Post Nigeria. The company reported that high demand for its products has ‘significantly’ increased its pan-African operations.

CEO Arvind Pathak said “This effort resulted in a 55% surge in our Nigerian exports, underscoring our commitment to fostering African self-sufficiency.”

Nigeria: An update has been released on the cement plant planned in Bauchi State, on which Global Cement previously reported on 11 June 2024. On 7 August 2024, the Bauchi State government signed a Memorandum of Understanding (MoU) worth US$1.5bn with Resident Cement Company to establish a cement plant in Gwana District, the Nigerian Tribune reports. The plant is expected to produce 10Mt/yr of cement. The project includes a 100MW power plant, a dam and other amenities for the community, which will reportedly help to attract foreign investment and boost the local economy.

Nigeria: Lafarge Africa has reported an increase in sales and net income for the second quarter ending 30 June 2024. Sales rose from US$66.7m in the second quarter of 2023 to US$99.5m in the same period in 2024, representing a year -on-year increase of 49%. Net income also increased, from US$12.9m to US$15.2m, a year-on-year increase of 18%.

Nigeria: The Mangal Cement plant in Iluagba, Kogi State has successfully produced its first bag of cement. The plant is capable of producing 6000t/day of cement. The US$1.5bn facility aims to transform the local cement industry and will create 10,000 new direct and indirect jobs, Dateline Nigeria has reported. Mangal Industries has partnered with China-based Sinoma International Engineering for the plant’s construction, with a reported cost of US$600m.

Finland-based Wärtsilä has won a 10-year operations and maintenance agreement for a 50MW captive power plant to power the facility. Initially, the plant will use liquid fuel, but a pipeline will be constructed to allow it to use natural gas.

Chair Alhaji Dahiru Mangal said “This factory will employ the latest technology and adhere to the highest environmental standards. It is part of our ambitious programme to address Nigeria’s infrastructure and housing deficits, while demonstrating our confidence in the region’s economic outlook.”

Nigeria: BUA Cement recorded a decline in profit in the first half of 2024, with post-tax profit falling to US$20.7m, down from US$38.3m in 2023. Profit before tax also decreased, standing at US$24.1m compared to US$46m a year ago.