UNICEM to double cement capacity to 5Mt/yr by 2016

Print this page

Nigeria: Flour Mills of Nigeria plans to borrow up to US$500m to finance a 2.5Mt/yr upgrade at its 2.5Mt/yr UNICEM joint venture cement plant in Calabar, according to its chief finance officer. Flour Mills operates in the Nigerian cement market as Burham Cement and it shares its joint venture with Holcim and Lafarge.

In an interview with Reuters, Jacques Vauthier announced that the conglomerate had appointed financial advisers and banks to raise a term loan from the local market for the construction of the plant. He said that the details of the loan were still being finalised. The new cement plant will be completed by the first quarter of 2016.

Vauthier acknowledged the cement glut in 2012 and blamed it on cheap imports from Asia. He added that sales were picking up again and he expected its cement subsidiary Unicem to end 2013 with a year-on-year growth rate that is in double-digits.

This news story was updated on 11 November 2013 with the exisiting capacity of the UNICEM cement plant

Last modified on 11 November 2013

Register for the Global Cement Weekly email newsletter

Global Cement Weekly is Global Cement’s weekly email newsletter. Keep up to date with cement industry news, analysis, diary dates and news of people in the sector.

Register >

URL: https://www.globalcement.com/news/item/1434-unicem-to-double-cement-capacity-to-25mt-yr-by-2016

© 2022 Pro Global Media Ltd. All rights reserved.