Displaying items by tag: BUA Group

Nigeria: Aliko Dangote has retained his position as the richest man in Africa, with a net worth of US$12.1bn for the 11th consecutive year, according to Forbes’ Top 10 List of African Billionaires. The owner of Dangote Cement saw his personal wealth increase by US$1.8bn, or nearly US$5m/day, in 2021, bringing it to US$13.9bn. A major contributing factor was a 30% rise in the share price of Dangote Cement, his most valuable asset. This was due to a surge in housing developments in Nigeria and growth in government infrastructure spending in 2021.

The Forbes list also ranked Abdul Samad Rabiu as the fifth richest African. He founded and chairs Nigeria-based cement producer BUA Group.

Nigeria: BUA Cement’s nine-month consolidated sales were US$453m in 2021, up by 20% year-on-year from US$379m in the first nine months of 2020. The group’s net profit was US$160m, up by 23% from US$130m. The Daily Independent newspaper has reported that increased costs restricted profit growth in the third quarter of 2021. Administrative expenses rose by 51% year-on-year during the quarter.

Nigeria: Finland-based Wärtsilä has secured a contract to supply a 70MW dual-fuel power plant for the upcoming 3Mt/yr Line 4 of its Sokoto cement plant. The power plant is scheduled for commissioning alongside the line before 2023. BUA Cement previously ordered a dual fuel plant for the Sokoto cement plant’s Line 3, which is also scheduled for commissioning alongside that line, in November 2021.

Chair Abdul Samad Rabiu said “BUA Cement is happy and pleased with the progress that Wartsila made with the construction of the power plant we initially purchased for our BUA Cement Sokoto Line 3. We believe Wärtsilä will bring the same level of efficiency, technical expertise and professionalism to bear in ensuring that this new power plant for the 3Mt/yr BUA Cement Sokoto Line 4 will be completed on schedule by the end of 2022 as we look towards bringing BUA’s total capacity in its Sokoto plant to 8Mt/yr by early 2023 and across all its plants to 17Mt/yr by the same time.”

Nigeria: BUA Cement recorded full-year net sales of US$550m in 2020, up by 20% year-on-year from US$460m in 2019. Profit after income taxes was US$185m, up by 16% from US$159m.

In December 2020, Global Cement reported that the company planned to bring three integrated cement plant projects with a total capacity of 9Mt/yr to fruition by the end of 2022. This would bring its installed capacity to 20Mt/yr.

Nigeria: BUA Group subsidiary BUA Cement has shared plans to establish a 3Mt/yr-capacity integrated cement plant in Guyuk, Adamawa State. The Sun newspaper has reported that the company also plans to establish a 50MW power plant in nearby Lamurde, also in Adamawa State. BUA Group chairman Abdul Samad Rabiu said, “We will use new technologies to supply power to the proposed cement plant and communities of Guyuk and Lamurde.” The state’s limestone deposits with provide the raw material for clinker production.

Nigeria: Sinoma Construction Nigeria says it has completed the construction of a second 6000t/d line at BUA Group subsidiary Obu & Edo Cement’s Edo cement plant, bringing the plant’s total integrated capacity to 5.5Mt/yr. The subsidiary of China-based Sinoma said that it completed the work in spite of an outbreak of malaria and electricity shortages. It said, “The successful fulfilment of the project has laid a solid foundation for the company's in-depth localised operation and comprehensive cooperation with the BUA Group.”

Nigeria: BUA Group has announced its acquisition of a majority shareholding in PW Nigeria, one of Nigeria’s leading construction, engineering and mining companies. According to BUA, this was necessary to further deepen its investments in the infrastructure business in Sub-Saharan Africa.

Speaking on the acquisition, Abdul Samad Rabiu, executive chairman of BUA Group, said, “This acquisition marks the beginning of the next phase of our medium term strategy for our infrastructure business following the completion of the consolidation of our cement arm, BUA Cement in January 2020. BUA’s acquisition of majority holdings in PW Nigeria provides a prime opportunity to increase our investments in the entire value chain of the cement, mining and construction sector. We believe PW Nigeria, with its solid experience in building dams, roads, airports, water projects and other infrastructure projects in Nigeria, provided a strong value proposition too difficult to ignore.”

Nigeria: Obu Cement and Cement Company of Northern Nigeria (CCNN), both subsidiaries of BUA Group, are set to merge. Abdul Samad Rabiu, founder and executive chairman of BUA Group, said that the merger ‘marks the culmination of the first phase of the BUA mid-term strategic plan,’ which aims at deepening the domestic cement market and enhancing industry growth.

Rabiu stated that the completion of the 3Mt/yr integrated Sokota Kalambaina II cement plant and a 48MW power station, construction of which began in 2018, has been scheduled for the second half of 2020. In addition to its four existing plants, this will bring the group’s total integrated cement production capacity to 11Mt/yr.

Nigeria: BUA Group has ordered a 48MW power plant from Finland’s Wärtsilä for a new production line at its Sokoto cement plant. The power plant will operate without connection to an electricity grid and it will operate on five Wärtsilä 34DF dual-fuel engines, running primarily on liquified natural gas (LNG) but with the capability to switch to low pour fuel oil (LPFO) if necessary. The site’s two existing power plants operate on heavy fuel oil (HFO).

The Wärtsilä equipment is scheduled for delivery at the end of 2019, and the new plant is expected to become operational in mid-2020. No price for the order has been disclosed.

Nigeria: BUA Group has signed a contract with Finland’s Wartsila Oy for construction of a 48MW power plant for Line 3 at its Sokoto Cement plant in Sokoto State. The announcement of the deal follows BUA’s January 2019 announcement that China’s CBMI would build the new line at the site.

Abdul Samad Rabiu , the executive chairman and chief executive officer (CEO) of BUA Group, signed on behalf of the group while Wartsila’s Head of Africa Magnus Miemois signed for the power plant provider.

BUA is Nigeria’s second-largest cement producer by volume, with assets that include the 6Mt/yr Obu Cement I & II plants in Okpella, Edo State, CCNN’s 1.5Mt/yr Kalambaina plant and the 0.5Mt/yr Sokoto cement plant.