# IFC and partners provide $500 million financing to BUA Cement for new production lines

IFC, AfDB, AFC and DEG provided a $500 million financing package to BUA Cement to develop two new energy-efficient cement production lines in Sokoto State, Nigeria. Each line will produce about 3 million tonnes of cement annually, creating up to 12,000 direct and indirect jobs.

- Type: Investment
- Announced: 2023-06-05
- Where: Sokoto State, Nigeria
- Value: $500.0M
- Jobs: 12,000
- Status: announced
- Capacity: 6 million tonnes per year (two lines at 3 million each)
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [BUA Cement](https://endata.com/companies/35404.md)
- [DEG](https://endata.com/companies/420.md) (investor)
- [African Development Bank](https://endata.com/companies/27040.md) (investor)
- [IFC](https://endata.com/companies/49372.md) (investor)
- [Africa Finance Corporation](https://endata.com/companies/70659.md) (investor)

## Sources

- [buacement.com](https://www.buacement.com/pressreleases/IFC-and-Partners-Support-BUA-with-$500-Million-Facility-to-Boost-Industrialization,-Create-Jobs,-in-Northern-Nigeria-and-the-Sahel?id=5), 2023-06-05: "IFC today made its largest-ever investment in northern Nigeria, providing a financing package alongside African and European partners to BUA Cement Plc."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.