Lafarge Africa to invest US$502.65 million in AshakaCem’s plants

In order to rebuild the devastated north-eastern region of Nigeria, Lafarge Africa has committed to accelerate the ongoing NGN 100 billion (US$502.77 million/€458.1 million) expansion of cement manufacturing company AshakaCem's new and existing plants and coal-fired captive power plant.

AshakaCem's production capacity will increase from 1 million tonnes to 4 million tonnes.

Meanwhile, Lafarge Africa is also interested in collaborating with a Presidential Initiative for the North-East (PINE) for redeve

The annual capacity of Nigeria's cement industry has potential to reach 58.5 million tonnes if all cement producers confirm their expansion plans.
Ashaka Cement is planning to invest over NGN 100 billion (€460.88 million/US$617.1 million) to build a 2.5 million tonnes/year cement plant; build a coal-fired power plant and upgrade an existing cement facility to 1.5 million tonnes/year.
United Cement Company of Nigeria will invest NGN 84 billion to double cement capacity from 2.5 million tonnes to 5 million

Nigeria-based Dangote Cement has registered a jump in its revenue in 2013 to NGN 386.20bn (€1.7 billion/US$2.34 billion), up by 29%.

The company has recorded an increase in its net income in 2013 from NGN 145.1 billion in 2012, to NGN 201.9 billion. Its sales stood higher to 13.3 million tonnes, up by 28%.

In 2014, the cement company aims to expand its plant under an investment of around US$1 billion (€725.59 million).