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Monday, March 27, 2023

BUA Cement to Raise Capital from IFC for Sokoto Plant Expansion

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BUA Cement has notified the Nigerian Exchange Limited (NGX), its esteemed Shareholders and the investing public that the Company has gone into discussion with the International Finance Corporation (IFC), to obtain a loan for the expansion of BUA Cement’s integrated cement plant in Kalambaina, Sokoto State.

IFC will serve as lead arranger in conjunction with a number of other lenders in a syndication pool.

BUA Cement plans to increase the Sokoto plant capacity from 2.0 million tons per annum (MTPA) to 8.0 MTPA and the development of other ancillary utilities (the Expansion Project).

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