BUA Cement and Sinoma sign $1.05B deal for three new plants in Nigeria

BUA Cement signed an agreement with Sinoma CBMI to build three new cement plants of 3Mta each in Edo, Sokoto and Adamawa states, Nigeria. The $1.05 billion project will bring BUA's total capacity to 20Mta and is expected to be completed by end of 2022.

“To bridge this huge deficit gap in Nigeria and in the absence of new major investments in the industry, we have taken this decision to invest and build these new plants at a total project cost of US1.05bn dollars which will be completed by the end of 2022.”cemnet.com

• 3 sources
• cemnet.comBUA and Sinoma sign US$1.05bn project agreement | CemNetICR NewsroomDec 23, 2020
• stging.businessday.ngBUA to build cement plants worth $1.05bn in Sokoto, Edo, Adamawa - Businessday NGOdinaka AnuduDec 23, 2020
• worldcement.comBUA Cement to construct cement plants in Sokoto, Edo and Adamawa | World CementEmily ThomasJan 6, 2021

Summarized from public sources; check the original articles before acting on it.