BUA Cement to Construct 3 Plants Of 9million MTPA in Sokoto, Edo and Adamawa

Must Read

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

FG, States, LGAs share N528.39bn FAAC allocation in Jan 2021

The Federation Account Allocation Committee (FAAC) disbursed the sum of N619.34bn to the three tiers of government in December...

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...
- Advertisement -

BUA Cement Plc has signed an agreement with Sinoma CBMI of China for the building of additional three production lines of 3 million metric tonnes per annum each this week.

Upon completion, this will bring BUA Cement’s total capacity to 20million metric tonnes by 2022. At 9million tonnes combined capacity, this is the single largest contract ever awarded in the Nigerian Cement Industry for the construction of new cement plants at the same time and by a single company, in Nigeria.

BUA Cement signs contract to build 3 Plants in Adamawa, Edo and Sokoto Brandspurng1

The production lines are to be located at Adamawa, Edo and Sokoto states. Since the merger, BUA Cement has focused on leveraging on its wider geographical footprint to access new markets and claim a stronger market share.

The announcement came as BUA Cement approval to raise about N100 billion in series one of its 7-year Fixed Rate Senior Unsecured Bonds under its N200 billion bond programme closed on Monday 21 December 2020.

BUA Cement Waxing Stronger Against All Odds?

- Advertisement -

In Q3:2020, BUA Cement Plc. improved on the revenue gains made in H1:2020 to deliver another impressive topline performance in 9M:2020. The company grew sales volumes by 15.95%, from 3,291 kilotons in Q3:2019 to 3,816 kilotons in Q3:2020. This puts standalone revenue for the quarter at NGN55.29bn – a 39.72% improvement compared to NGN39.57bn in Q3:2019.

Read Also:  Ecobank is the Most Admired Financial Services Brand in Africa

While BUA Cement efforts have resulted in enhanced brand awareness and a wider distribution chain, performance in Q3:2020 was largely supported by the pick- up in economic activities following the easing of lockdowns in Q2:2020 and the relatively short rainy season which aided cement distribution. Overall, the 9M:2020 financial scorecard showed revenue growth of 20.95%.

BUA Cement signs contract to build 3 Plants in Adamawa, Edo and Sokoto Brandspurng1

- Advertisement -
BUA Cement to Construct 3 Plants Of 9million MTPA in Sokoto, Edo and Adamawa - Brand SpurBUA Cement to Construct 3 Plants Of 9million MTPA in Sokoto, Edo and Adamawa - Brand Spur
- Advertisement -

1 COMMENT

  1. […] year 2020 saw the Cement sub-sector ward off formidable challenges. As a sector dependent on the easy movement of goods, the lockdown […]

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

BUA Cement to Construct 3 Plants Of 9million MTPA in Sokoto, Edo and Adamawa - Brand SpurBUA Cement to Construct 3 Plants Of 9million MTPA in Sokoto, Edo and Adamawa - Brand Spur

Latest News

IITA, Key Partner For Promoting Agriculture As A Business For Smallholder Farmers

As part of the PICAGL project implementation funded by the World Bank through the Congolese government, IITA hosted an...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -BUA Cement to Construct 3 Plants Of 9million MTPA in Sokoto, Edo and Adamawa - Brand SpurBUA Cement to Construct 3 Plants Of 9million MTPA in Sokoto, Edo and Adamawa - Brand Spur