Cement News tagged under: Nigeria
Nigeria: Lafarge to invest US$307m into Ashaka Cement expansion08 July 2014, Published under Cement NewsAshaka Cement (Lafarge Group) has secured a NGN50bn (US$307m) credit facility, in addition to internally-generated cash flows to expand its cement production base. Umaru Kwairanga, chairman of the Board of AshakaCem plc, disclosed that Lafarge Group was committed to the capacity expansion project in Ashaka and would deploy its global expertise in procurement and erection of new cement plant. “Given the extent of preparatory work that has been done, the project is a reality and will s... |
Nigerian cement industry backs 42.5 grade cement07 July 2014, Published under Cement NewsMajor cement producers in Nigeria have pledged their commitment to the House of Representatives’ position that 42.5MPa grade cement is to become the minimum standard of cement quality produced in the country. All products that do not meet this benchmark are expected to be withdrawn from the market. The step follows government acceptance of report findings and stakeholder consultation by the Committee on Cement Composition and Pigmentation, which had recommended the 42.5 grade option being... |
Nigeria: authorities urged to sanction slow regulation compliance16 June 2014, Published under Cement NewsCement distributors and block makers in southeast Nigeria have urged the regulatory authorities not to back down on the recently-reviewed quality standard and grading of cement. They called on government to sanction product manufacturers that fail to comply within the stipulated period of time. The distributors, however, commended Dangote Cement for complying, saying it has shown that it has the interest of its customers at heart and “that everything is not all about profit to the detrime... |
New national standard approved in Nigeria19 May 2014, Published under Cement NewsOlusegun Aganga, Minister of Nigeria’s Federal Ministry of Industry, Trade and Investment, has given final approval for a new national cement standard, which will be mandatory for both domestically produced cement and imports. The new standard will be strictly enforced throughout the country following a short grace period. All cement produced domestically or imported into the country that meets the new standard will be labelled under the label ‘NIS 444-1.’ The ministry asserted that th... |
Nigeria: Dangote to stabilise cement price08 May 2014, Published under Cement NewsSpeaking to shareholders at the 5th 2013 Annual General Meeting Aliko Dangote, Chairman of Dangote Cement Plc, pledged that his company would intensify direct-to-consumer deliveries to help stabilise cement prices in Nigeria. Aliko Dangote admitted that most input costs into cement production have risen to an "astronomically high" level, but that his organisation is committed to reducing prices. Dangote sold 13.3Mt of cement in Nigeria within the financial year representing an increase of 2... |
Ashaka Cement 1Q14 profit after tax rise 69%05 May 2014, Published under Cement NewsAshaka Cement's 1Q 2014 results showed that profit before tax and profit after tax grew strongly by 74 and 69 per cent to NGN2.8bn (US$17.5m) and NGN1.9bn, respectively when compared to 1Q13, according to Nigerian Stock Exchange data. Sales were up by eight per cent to NGN6.5bn. |
Lafarge Wapco first-quarter pretax profit up 20%29 April 2014, Published under Cement NewsLafarge Wapco said on Monday its first-quarter pretax profit rose to NGN8.62bn (US$54m), up 20 per cent from NGN7.20bn in the same period of last year. Turnover at the Nigerian unit of France’s Lafarge, rose to NGN27.03bn during the three months to March, against NGN23.23bn a year earlier, it said in a filing with Nigerian Stock Exchange. |
BUA signs gas supply deal for Edo Cement Co01 April 2014, Published under Cement NewsBUA Cement has signed a gas sales and purchase agreement (GSPA) with Nigerian Gas Company (NGC) for its Edo Cement Co subsidiary. Leadership Newspapers reported that the agreement was signed by both parties in Lagos at the weekend. The deal would see the supply of about 33mmscf per day of natural Gas by NGC to the Edo cement plant in Okpella, Edo State according to managing director, NGC, Engr Saidu Mohammed. The group executive director, BUA Group, Kabiru Rabiu who signed the agreement... |
Ashaka Cement pretax profit declines, Nigeria01 April 2014, Published under Cement NewsNigeria’s Ashaka Cement said its pretax profit fell last year to NGN2.84bn (US$17.2m) from NGN5.47bn in the last year. Turnover only slipped to NGN21.69bn from NGN21.82bn, the company said in a filing with the Nigerian Stock Exchange. |
Dangote: new capacity development update28 March 2014, Published under Cement NewsFull-year results from Dangote Cement show the company has been outperforming growth in its domestic market of Nigeria as new capacity boosts market share. With a number of new projects scheduled for completion this year both on the home front and across the sub-Sahara Africa region, the emerging cement major is targeting 60Mta of production, grinding and import capacity by 2016. On Wednesday the company delivered its 2013 financial review highlighting that revenues rose by 22.4 per ... |