Cement News tagged under: Nigeria
Dangote Cement announces NGN150bn commercial paper programme25 August 2021, Published under Cement NewsNigeria’s Dangote Cement has announced a new NGN150bn (US$364.84m) Commercial Paper Programme. The programme is expected to allow the company to broaden its funding sources and, combined with its NGN300bn multi-instrument issuance Bond programme, increase its access to capital market funding. The Commercial Paper will be used for working capital and general corporate purposes, according to a statement. "The establishment of a new NGN150bn Commercial Paper confirms Dangote Cement Plc’s ... |
Lafarge Africa Plc announces 1H21 group revenues of NGN145m18 August 2021, Published under Cement NewsLafarge Africa PLC (Holcim group) announced 1H21 group revenue of NGN145m (US$351.9m) with gross profits of NGN48m. In the 2Q21, group revenue reached NGN73.5m and gross profits amounted to NGN28.9m. Group cement sales totalled NGN71.5m in the 2Q21 and NGN141.4m in the 1H21. Meanwhile, Aggregates and concrete sales amounted to NGN2m in the 2Q21 and NGN145m in the 1H21. Lafarge Africa Plc has a cement production capacity of 10.5Mta in Nigeria. |
Dangote Cement sees 45% rise in revenue05 August 2021, Published under Cement NewsNigeria’s Dangote Cement has posted a 44.8 per cent YoY rise in group revenue to NGN690.55bn (US$1.676bn) in the first half of 2021, compared to NGN476.85bn in the year-ago period. Group EBITDA also climbed 61 per cent to NGN351.06bn from NGN218.07bn in the 1H20, while the EBITDA margin increased to 50.8 per cent from 45.7 per cent. Overall group cement volumes advanced 26.1 per cent YoY to 15.28Mt from 12.11Mt, supported by strong demand across all operations. "We are pleased to report... |
New entrants to help meet Nigeria's increasing cement demand30 July 2021, Published under Cement NewsThis week Nigeria has caught attention with announcements of new cement capacity. Not only has Dangote Cement cut the tape on its US$1bn cement plant near Okpella in Edo State, but there has also been an announcement that new entrant Madugu Cement will establish a 5Mta greenfield cement plant in Gombe State. While the country is building its cement capacity at an astonishing rate, cement demand is still outpacing output and the extra capacity is not yet being reflected in lower cement prices... |
Lafarge Africa Plc opts for 52 LNG trucks28 July 2021, Published under Cement NewsAt Lafarge Africa Plc (Holcim group) has reaffirmed its commitment towards affordable and clean energy, through the launch of a new set of 52 LNG-fuelled trucks. The implementation of the natural gas powered trucks in partnership with Ecologique will improve environmental performance as LNG generates 30 per cent less CO 2 t han fuel oil and 45 per cent less than coal. The combustion of natural gas dissipates much more quickly in the air, leaving no particles or residue. Spe... |
Nigeria to build new 5Mta cement plant in Gombe State27 July 2021, Published under Cement NewsMadugu Cement is set to establish a 5Mta cement factory in Kembu and Kwali districts of Akko and Yalmatu Deba, Gombe State, Nigeria. The plant will be built by Sinoma International Engineering Company Ltd in partnership. Gombe State Governor, Muhammadu Inuwa Yahaya, said: "Your coming here is very apt and we welcome you most profoundly because we benefitted from the existence of the one and only cement company in the sub-region, in fact in the whole of the north we have only four cem... |
Dangote's Edo plant is ready to start production23 July 2021, Published under Cement NewsDangote Cement's US$1bn plant in Edo, Nigeria, is completed and set for commissioning. The plant has a cement production capacity of 6Mta and is built on a 100ha plot. The integrated cement plant, near Okpella, was built by Sinoma International Engineering Co and 1500 local workers collaborated with the Chinese engineers on the project. The factory would employ at least 6000 persons when it commenced operations. Mr Patrick Omokagbo, director of Stakeholder Management at Dangote ... |
Dangote acquires 20,000 vehicles to improve distribution13 July 2021, Published under Cement NewsNigeria’s Dangote Cement has acquired 20,000 additional vehicles to improve the distribution of its products across the country. The vehicles, made up of trucks, trailers and tippers, represent an investment of US$150m. "These assets would meet the expected increase in demand for transportation of cement to every part of the country and create employment for over 4000 people in Nigeria," said Dangote spokesperson Tony Chiejine. "We have acquired the new trucks in line with our new expan... |
Dangote maintains cement prices despite currency devaluation01 June 2021, Published under Cement NewsNigeria’s Dangote Group has not increased the price of its cement products, despite the naira devaluation by the Central Bank of Nigeria, according to The Punch. Instead, the group’s Sales and Marketing Director, Rabiu Umar, stated that it had released 2000 trucks into the market to increase distribution and counteract the cement price hike in the country. The price increase has been attributed to a sudden 40 per cent demand increase. "We in the past had an opportunity to export our ceme... |
BUA Cement announces plans for bond sale07 May 2021, Published under Cement NewsNigeria’s BUA Cement has announced plans to sell a second tranche of bonds under its NGN200bn (US$525.6m) programme to finance its expansion plans, following the release of the first NGN115bn tranche last year. Yusuf Binji, CEO, noted that the amount of the sale will depend on its funding needs but did not give an expected time for the sale. The company plans to expand capacity in the country to 20Mta from 11Mta. "We will only export our excess capacity if the Nigerian market is not able... |