BUA Foods Plc and IMAS, a Turkish producer of milling equipment, have reached an agreement for the construction of four new wheat milling units that can process up to 3200 tonnes of wheat per day.
This was revealed by the business in a statement posted on the NGX and signed by Adewunmi, director of marketing and communications.
The proposed new wheat mills would raise BUA’s annual milling capacity to 2.5 million metric tonnes, according to the announcements available to BrandSpur national news stories.
The company stated that the additional factories will increase manufacturing capabilities and capacity, allowing for the manufacture of more high-quality goods that will aid in addressing Nigeria’s food insecurity.
With an 84% capacity utilisation rate, the company’s installed milling capacity was 500,000 metric tonnes annually in 2022. The capacity is expected to increase by over 400%, reaching 2.5 million metric tonnes.
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According to the statement, the company’s chairman, Abdulsamad Rabiu, who also signed the deal on the company’s behalf, mentioned that the new factories are a part of the company’s objectives to increase its market share in Nigeria for flour.
Rabiu stated: “This partnership with IMAS is a testament to our dedication to improving food security in Nigeria. These new factories will significantly boost our capacity to continue to produce high-quality flour products while helping to create additional job opportunities across the country.”
Speaking further: “This investment is a step towards our target of increasing our share of the Nigerian flour market. The addition of four mills will enable us to produce high-quality flour thereby offering us the flexibility to address various potential flour needs,” Rabiu added.
