# Afreximbank signs facility for Veenocks porcelain tile plant in Nigeria

Afreximbank signed a project preparation facility agreement with Veenocks Limited to finance the development of a porcelain tile manufacturing plant in Sagamu, Ogun State, Nigeria. The plant will have an annual capacity of 6.6 million square metres and an estimated investment cost of US$117 million.

- Type: Investment
- Announced: 2024-08-15
- Where: Sagamu, Ogun State, Nigeria
- Value: $117.0M
- Jobs: 700
- Status: announced
- Capacity: 6.6 million square metres per year
- Products: porcelain floor and wall tiles
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Veenocks Limited](https://endata.com/companies/15135.md)
- [African Export-Import Bank](https://endata.com/companies/15136.md) (investor)

## Sources

- [afreximbank.africa-newsroom.com](https://afreximbank.africa-newsroom.com/press/afreximbank-signs-project-preparation-facility-agreement-to-support-development-of-veenocks-porcelain-tiles-plant-in-nigeria?lang=en), 2024-08-15: "With this collaboration, Veenocks is poised to make a meaningful impact in the industry, fostering economic growth and creating opportunities for communities across Africa"

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