Displaying items by tag: Nigeria

Nigeria: Dangote Cement plans to buy back 1% of its issued shares under its on-going share buyback programme. The Business Post newspaper has reported that the group launched the first tranche of the programme in 2020. At that time, it bought back 0.2% of its shares. Dangote Cement will make the currently planned purchase when the second tranche commences on 19 January 2022.

Zimbabwe: Lafarge Cement Zimbabwe appointed Geoffrey Ndugwa as chief executive officer (CEO) in mid-December 2021. He succeeds Precious Murena, who stepped down in September 2021.

Ndugwa was previously the CEO for Lafarge Malawi from late 2019. He brings experience in the cement industry spanning over 17 years working in various capacities across Africa. Some of his notable appointments include being the Commercial Director for Bamburi Group in Kenya, the General Manager Innovation and Marketing for Lafarge WAPCO Nigeria, the General Manager for Bamburi Special Products in Kenya, the Head of Business Support for Barclays Bank of Uganda and the Sales Manager for Hima Cement in Uganda.

Ndugwa holds a master’s degree in Business Administration from Heriot-Watt University in the UK, a post graduate diploma in marketing from the Chartered Institute of Marketing in the UK and a Civil Engineering degree from the University of East London.

Nigeria: Sinoma International Engineering has announced the commissioning of the new 3Mt/yr production Line 3 at BUA Cement’s Sokoto cement plant at Kalambania in Sokoto state. The supplier, a subsidiary of China National Building Material (CNBM), says that work continues on the plant’s upcoming Line 4.

Nigeria: Finland-based Wärtsilä has secured another contract for the supply of a 70MW dual-fuel gas-fired power plant to BUA Cement, this time for the upcoming Line 3 of its Obu cement plant in Edo state. The Sun newspaper has reported that the line and a new fourth line at Sokoto cement plant will bring the company’s total cement capacity to 17Mt/yr when commissioned in 2022. BUA Cement is scheduled to commission the Sokoto cement plant’s new Line 3 in November 2021.

Chair Abdul Samad Rabiu said “Currently, we have phased out the use of coal across our factories and are now shifting to gas-powered plants. As we ramp up our capacity, there is need to complement it with efficient power supply and Wärtsilä’s technology has been found to be durable and uniquely aligned with our vision for more efficient power generation at all our production locations.”

Nigeria: Dangote Cement has reported that Alhaji Sani Dangote died on 14 November 2021. He was the brother of the company’s founder and chair Aliko Dangote.

Sani Dangote was a businessperson with over 30 years’ experience in various sectors of the Nigerian economy including manufacturing, agriculture and oil services. He was the Vice President of Dangote Industries and sat on the board of several other companies. He was also the deputy chair of the African Gum Arabic Producers Association, a fellow of the Nigeria Institute of Shipping and president of the Fertiliser Producers and Suppliers Association.

Nigeria: Mangal Industries has signed a contract with China-based Sinoma International Engineering for the delivery of a 3Mt/yr new integrated cement plant in the northern state of Kogi. The Daily Independent newspaper has reported that the plant will cost US$600m and generate ‘thousands’ of jobs when commissioned in early 2024. Sinoma International Engineering will also build a dedicated 50MW power plant for the plant.

Mangal Industries’ chair Alhaji Dahiru Mangal said “This investment is part of an ambitious investment programme under implementation by Mangal Industries. The factory will rely on the best available technology for cement production in line with highest environmental standards.” He added “Mangal is investing strategically in the Nigerian cement industry, to bridge the huge infrastructure and housing deficit in the largest economy of the region. This investment reinforces Mangal’s commitment to Nigeria’s infrastructural and economic development, and reflects its confidence in the favourable outlook of the economy in the country and the region.”

Nigeria: Dangote Cement increased its consolidated sales by 34% year-on-year to US$2.48bn in the first nine months of 2021 from US$1.84bn in the first nine months of 2020. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 45% to US$1.25bn from US$860m.

Group cement volumes were 22.2Mt, up by 15% from 19.2Mt. Nigerian volumes rose by 19% to 14.1Mt from 11.9Mt, while Pan-African volumes rose by 9.4% to 8.16Mt from 7.47Mt.

Chief executive officer Michel Puchercos said “We are pleased to report a solid set of the results for the first nine months of 2021. Given the strong rebound in the third quarter of 2020 following the impact of Covid-19 in the first half of the year, volumes in the third quarter of 2021 were slightly lower year-on-year, as anticipated, though worsened by heavier rains. However, the overall growth trend continues, supported by our ability to meet the strong market demand across all our countries of operation. The economic performance and efficiency initiatives across the group, enabled the offsetting of inflationary pressures on some of our cost lines.” He added “Dangote Cement has exceeded its 2020 full-year results in the first nine months of 2021, with year-on-year EBITDA growth trending at 45%, more than double its 21% growth in the first nine months of 2020. Despite operating in a complex, challenging, and fast-moving environment, Dangote Cement is consistently delivering superior profitability and returns to the shareholders.”

Nigeria: Domestic cement sales totalled US$3.46bn in value in the first nine months of 2021, up by 30% year-on-year from US$2.66bn in the corresponding period of 2020. The Punch newspaper has reported that market research company Atlas Portfolios Limited attributed the growth to an increase in federal and state governments’ infrastructure spending. The company added that increased homebuilding following the end of the Covid-19 lockdown generated further demand growth.

India: JK Cement has successfully completed an upgrade of Line 3 of its Nimbahera, Rajasthan, cement plant. The upgraded line has a 30% expanded capacity of 6500t/day, compared to 5000t/day previously.

The plant produces some cement for export to countries including Bahrain, the UAE, Nigeria, South Africa and Tanzania.

Nigeria: Finland-based Wärtsilä has extended its operation and maintenance agreement with Lafarge Africa by another five years. The agreement covers the 100MW Ewekoro power plant, which provides a dedicated supply of electricity to the company’s concrete and cement manufacturing processes. The extension of the deal was signed in July 2021 and it follows a previous 10-year agreement. The scope of the agreement includes the operating crew, performance guarantees, plant availability and spare parts.

The captive Ewekoro plant was supplied and commissioned by Wärtsilä in 2011. It consists of six Wärtsilä 50DF dual-fuel engines, operating primarily on gas, but with the flexibility to automatically switch to liquid fuel in case of a disruption to the gas supply. The engines are also designed to function efficiently with a low-pressure gas supply, a necessity given the region’s vulnerability to supply interruptions.

“We have benefited significantly from the efficient way by which Wärtsilä has operated and maintained this plant for the past 10 years, and we had no hesitation in extending the agreement for a further five years. An uninterrupted reliable supply of electricity is essential to our production, and having our own power plant, built, operated and maintained by Wärtsilä, gives us this assurance,” said Lanre Opakunle, Strategic Sourcing Director, Power & Gas, Middle East & Africa, Holcim.

Wärtsilä has also supplied Lafarge Africa with another 100MW power plant located in Mfamosing.