US company to invest in new Nigerian project

A USA-based investment group has announced is to construct a 1.5Mta cement plant and 600MW power plant in the southeastern state of Ebonyi, Nigeria.

Local newspaper, The Nation, reports that the Califco Group together with development partners, Cross River International Consulting and in conjunction with Ebonyi state government aims to revitalise cement production in the state as well as create employment.

The investment is said to be around US$1.5bn, the Nigerian Tribune reports. The project schedule and completion date remain undisclosed.