Cement News tagged under: Nigeria
Nigeria: Dangote investment drive not only in cement13 December 2013, Published under Cement NewsDangote Group, plans to invest about US$16bn in cement, petrochemicals and agriculture over the next four years. "We are investing US$4.7bn to finish our projects in cement in about 18 countries, including Nigeria," Aliko Dangote told Bloomberg. "We are also spending about US$2.3bn on agriculture, which is sugar and rice." The investment will help the Lagos-based company grow by almost a third in 2014, according to Mr Dangote. "We are very, very optimistic for 2014 - we are expecting avera... |
UniCem launches new high-strength product to market11 December 2013, Published under Cement NewsThe United Cement Company of (UNICEM) Nigeria launched its new high-strength cement into the market. According to Vipul Agrawal, the company’s marketing and technical assistance director, the new product, called “UniCem 42.5N Limestone Portland cement” is produced for specialised heavy construction works like high-rise buildings, long-span bridges, dams, fly-overs and silos. “We have developed the high strength performance cement (UniCem 45.5N) to take care of 10 per cent of our customers... |
Lafarge to sell excess electricity to Nigeria28 November 2013, Published under Cement NewsLafarge Cement WAPCO Nigeria Plc plans to sell about 40MW of excess electricity. The company uses only 40-50MW of the 90MW generated by its local power plant, Michael Awanayah, the company’s general manager of business transformation, said at the West African Power Industry Convention in Lagos. “We are looking to be one of the first manufacturers to sell power and help reduce the power shortage,” he said. (Source: BusinessDay). |
Nigeria: Dangote Cement Plc gross revenue soars20 November 2013, Published under Cement NewsIn the 1H13 Dangote Cement Plc's gross revenues grew by 29 per cent to NGN288.9bn (US$1.8bn) for the 3Q13, from NGN224.5bn recorded in the corresponding period 3Q12. Dangote Cement recorded a profit before tax (PBT) of NGN151.7bn for the nine-month period to September 2013, an increase of 43 per cent YoY from NGN106.4bn in 3Q12. Operational expenses grew by 57 per cent to NGN33.6bn in the nine months through to September 2013, while finance cost reduced by five per cent to NGN9.1bn in t... |
Dangote 3Q revenue rises on strong domestic demand11 November 2013, Published under Cement NewsDangote Cement reported a 28.7 per cent in revenue as demand continues to remain strong in its domestic market of Nigeria. According to the unaudited results, profit before tax (PBT) rose to NGN151.73bn (US$957.9m) compared to NGN106.43bn in 2012, while operating profit rose by 36.4 per cent to N156.89bn. Revenue for the period rose to NGN64bn compared to NGN244.50bn in the preceding year. Commenting on the results, Group Managing Director, Dangote Cement, Devakumar Edwin, said the co... |
FLSmidth wins large O&M contract from Dangote Cement in Nigeria05 November 2013, Published under Cement NewsFLSmidth and its affiliated companies have signed a number of contracts with Dangote Cement PLC for operation and maintenance of certain production lines at their cement plants in Nigeria for a period of five years. The value of the contracts is undisclosed. FLSmidth has had a business history with Dangote Cement PLC which includes the supply of two of the four production lines at Dangote Cement PLC's plant at Obajana, Kogi State, Nigeria. The contracts, which together constitute the la... |
Ashaka Cement pretax profit down 58.87%, Nigeria01 November 2013, Published under Cement NewsAshaka Cement pretax profit fell to NGN2.16bn (US$13.6m) in the first nine months of 2013, down 58.87 per cent from NGN5.27bn a year ago. Turnover for the Nigeria-based producer rose to NGN16.83bn during the nine months to 30 September, from NGN16.46bn in the same period of last year. Ashaka Cement, in which Lafarge holds a 59 per cent interest, having increased this from 50 per cent in 2012, is located in the northeastern Nigerian state of Gombe. |
Dangote nine-month pretax profit rises 42.5%31 October 2013, Published under Cement NewsDangote Cement said its pretax profit for the first nine months of 2013 rose 42.5 per cent to NGN151.72bn (US$952m), compared with NGN93bn in the same period last year. Revenue for the period also rose to NGN288.98bn, compared with NGN224.49bn in the same period of 2012. |
Lafarge WAPCO reports 26% rise in pretax profit30 October 2013, Published under Cement NewsLafarge WAPCO Cement Nigeria has recorded an increase in pretax profits of 26 per cent for the nine months to the end of September. The company reported pretax profits of NGN20.66bn (US$130m) and revenues of NGN74.27bn, up from NGN69.84bn compared to the same period of 2012. Third quarter sales rose six per cent to NGN24.8bn and pretax profit was up 65 per cent YoY at NGN6.9bn thanks to improved gross margin at 39.9 per cent. In 3Q12 the company undertook maintenance activities for aroun... |
Dangote plans to enter Niger market18 October 2013, Published under Cement NewsDangote Cement plans to spend US$350m to build a new cement in Niger as part of the its African expansion drive. Speaking to press following a meeting with Niger President Issoufou Mahamadou on Wednesday, Aliko Dangote, stated: "I announced to the head of state my intention to build a cement plant worth US$350m which will produce 1.5Mta." "The realisation of this project will create 6000 to 7000 jobs," he added. He said the plant would produce its own electricity with an anticipated sur... |