The Food & Water Division of the Swedish company, Alfa Laval is collaborating with BUA Group, one of Africa’s biggest food, mining, manufacturing, and industrial conglomerates, which is owned by billionaire industrialist Abdul Samad Rabiu, to construct a state-of-the-art palm oil refinery in Nigeria.
The deal, which was signed at the BUA Group Middle East Office in Dubai, United Arab Emirates, by Panjak Maheshwari, Vice President at Alfa Laval, and Abdul Samad Rabiu, Founder and Executive Chairman of BUA Group, is a significant step in increasing Nigeria’s production of palm oil.
The BUA Group’s expanding presence in Nigeria’s manufacturing and food sectors is further enhanced by the new palm oil refinery. Additionally, it reaffirms the group’s food business segment, BUA Foods Plc, as a market leader. With a 1,000-ton-per-day capacity, this new refinery and fractionation plant is anticipated to improve domestic processing and lessen the nation’s dependency on imported palm oil.
In addition to bolstering Nigeria’s efforts towards industrial self-sufficiency, the facility will promote environmentally friendly manufacturing and agricultural methods. It is a component of a larger endeavour to boost economic growth in the palm oil industry, provide jobs, and add value locally.
Rabiu, the third-richest man in Nigeria with a net worth of $4.9 billion, has made several audacious moves, this project being the most recent. The main businesses of BUA Foods include the manufacturing of flour, pasta, rice, oil milling, and sugar refinement, BrandSpur news brand reports.
