Gwana Cement Factory to produce cement in US$864m deal

Nigeria’s Bauchi State Government has signed a US$864m deal with an American investment company to produce cement at the Gwana Cement Factory.

Bauchi State Governor, Senator Bala Mohammed, made the disclosure at the opening ceremony of a three-day event for the FCT Minister’s Press Corps in Bauchi. He said the constant return to scale of the investment was around NGN2bn (US$5.51m).

The government has also signed a Memorandum of Understanding for the implementation of Kujuru Solar Power Project, an infrastructure investment of US$100m, with the Kuwait government for investment of up to US$200m, reports All Afria. This is in addition to the NGN15bn agreement with Family Homes Funds for the supply of 2500 housing units across the state.