Displaying items by tag: Nigeria
Nigeria: Lafarge Africa has launched a new alternative fuel and raw material (AFR) platform at its Mfamosing cement plant in Cross River State, with the aim to reduce its CO₂ emissions. The facility will replace traditional fossil fuels with alternative energy sources derived from non-recyclable materials, according to the Nigerian Tribune.
ABC Transport expands capacity at Lafarge Africa’s cement plant
05 November 2024Nigeria: ABC Haulage, the heavy-duty vehicle division of ABC Transport, has expanded its operations at one of Lafarge Africa's cement plants by introducing a new fleet of compressed natural gas (CNG) powered vehicles. Victor Nneji, head of innovation & strategy at ABC Transport, said that adopting CNG technology has reduced operating costs by reducing dependency on diesel. This expansion increases the company’s capacity at the unnamed plant by 250,000t/yr.
Dangote Cement publishes 2024 nine-month financial results
28 October 2024Nigeria: Dangote Cement has recorded a 0.6% year-on-year rise in profit to US$163m for the first nine months of 2024. Revenue increased by 69% year-on-year to US$1.5bn, driven by price adjustments, up from US$885m in the same period in 2023. Gross profit also rose, up 36% year-on-year from US$568m to US$774m. The company has commissioned 11 out of 17 alternative fuel projects and recently integrated 1500 compressed natural gas trucks into its fleet in an attempt to reduce costs.
Dangote Cement exports clinker to Ghana and Cameroon
09 August 2024Nigeria: Dangote Cement has exported 14 shipments of clinker from Nigeria to Ghana and Cameroon as part of its strategy to boost foreign exchange inflows, reports Business Post Nigeria. The company reported that high demand for its products has ‘significantly’ increased its pan-African operations.
CEO Arvind Pathak said “This effort resulted in a 55% surge in our Nigerian exports, underscoring our commitment to fostering African self-sufficiency.”
Nigeria: An update has been released on the cement plant planned in Bauchi State, on which Global Cement previously reported on 11 June 2024. On 7 August 2024, the Bauchi State government signed a Memorandum of Understanding (MoU) worth US$1.5bn with Resident Cement Company to establish a cement plant in Gwana District, the Nigerian Tribune reports. The plant is expected to produce 10Mt/yr of cement. The project includes a 100MW power plant, a dam and other amenities for the community, which will reportedly help to attract foreign investment and boost the local economy.
Lafarge Africa reveals 2024 second quarter financial results
06 August 2024Nigeria: Lafarge Africa has reported an increase in sales and net income for the second quarter ending 30 June 2024. Sales rose from US$66.7m in the second quarter of 2023 to US$99.5m in the same period in 2024, representing a year -on-year increase of 49%. Net income also increased, from US$12.9m to US$15.2m, a year-on-year increase of 18%.
Mangal Cement plant becomes operational in Kogi State
01 August 2024Nigeria: The Mangal Cement plant in Iluagba, Kogi State has successfully produced its first bag of cement. The plant is capable of producing 6000t/day of cement. The US$1.5bn facility aims to transform the local cement industry and will create 10,000 new direct and indirect jobs, Dateline Nigeria has reported. Mangal Industries has partnered with China-based Sinoma International Engineering for the plant’s construction, with a reported cost of US$600m.
Finland-based Wärtsilä has won a 10-year operations and maintenance agreement for a 50MW captive power plant to power the facility. Initially, the plant will use liquid fuel, but a pipeline will be constructed to allow it to use natural gas.
Chair Alhaji Dahiru Mangal said “This factory will employ the latest technology and adhere to the highest environmental standards. It is part of our ambitious programme to address Nigeria’s infrastructure and housing deficits, while demonstrating our confidence in the region’s economic outlook.”
BUA Cement reports profit decline
01 August 2024Nigeria: BUA Cement recorded a decline in profit in the first half of 2024, with post-tax profit falling to US$20.7m, down from US$38.3m in 2023. Profit before tax also decreased, standing at US$24.1m compared to US$46m a year ago.
Nigeria: Dangote Cement has reported its financial results for the first half of 2024. The company recorded a net profit of US$117m, marking a 6% year-on-year increase from US$110m in the first half of 2023. Revenue also saw an increase to US$1bn, up by 85% year-on-year from US$587m. During the period, the company’s production volume was 13.8Mt, representing a 4% increase from the 13.2Mt produced during the first half of 2023. The group also reported a year-on-year increase of 50% in earnings before interest, depreciation and amortisation (EBITDA) of US$411m.
Nigeria: Lafarge Africa has launched ECOPlanet Unicem, the country's first low-carbon multipurpose cement, from its Mfamosing plant in Cross River State. The new product is reportedly designed with over 30% reduction in CO₂ emissions. ECOPlanet will be available nationwide by the end of 2024.