• Bauchi State Commissioner for Natural Resources, Muhammad Maiwada, said a new cement factory will soon be opened in the state.
• The commissioner announced that the value of the new factory is approximately 1.5 billion dollars and has an annual capacity of 10 million tons.
• The factory is planned to operate for 100 years and become a permanent pillar of the state’s economic development

Legit.ng’s Pascal Oparada covers technology, energy, stocks, investing and economy for more than ten years.

Bauchi State Commissioner for Natural Resources, Muhammad Maiwada, has assured stakeholders that the new cement plant to be established at Gwana in Alkaleri Local Government area is a move to transform the economy of the state.

Maiwada disclosed this while signing a memorandum of understanding (MoU) with Resident Cement Company and its Korean partners to set up a cement plant with an annual capacity of 10 million tonnes.

Also read

Good news as Nigeria attracts South African investors to $700 billion mining sector

The new factory will serve for 100 years

He noted that development stems from foresight and determination to bring lasting economic changes and attract high-value investments that secure a prosperous future for generations.

He stated that the value of the cement plant is approximately $1.5 billion and is expected to be a landmark project that will provide far-reaching benefits in many sectors.

According to him, the factory is planned to operate for 100 years and become a permanent pillar of the economic development of the state.

Punch reported that Maiwada said that the new facility will create a new impetus for the state’s economy. worksand improving residents’ quality of life.

The commissioner stated that the new facility will employ more than 10,000 skilled and unskilled workers in the geopolitical zones of the state to address unemployment and provide career opportunities to residents.

Also read

FG announces free caesarean section for all Nigerian women

He said:

“Plans for the factory include a 250-unit dedicated residential area for staff and a massive caravan park that can accommodate more than 3,000 trucks.”

The new facility will be powered by coal and gas power plants

It was stated that the power plant will also include a 150 megawatt coal and gas powered power plant. energy meets demands and increases regional power supply.

According to the commissioner’s statement, investors will finance the cement factory to ensure that the cement factory proceeds without disruption and does not impose a financial burden on the state.

Preliminary activities, including geophysical survey, are ongoing and are expected to last three months, laying a solid foundation for the success of the project.

Mangal Cement starts production

Development follows the emergence of something. new cement companyMangal Cement, which analysts believe will change Nigeria’s cement pricing equation.

Mangal Çimento, which started production, announced that it aims to produce approximately 400 trucks of cement per day.

Also read

NNPCL finally shares reason for low financing for domestic gas project

The company recently addressed the pricing of cement, which social media users said was sold for N6,000 per bag.

However, the company has issued a public statement regarding the cost of its cement product.

Traders sell BUA and Dangote cement for below N9,500

Legit.ng was previously owned by Financial Derivatives Company Limited. 50 kg bag price The cement quantity dropped to N7,500 in October 2024.

The new price represents a decrease of 21.05% compared to the average price of N9,500 in September 2024.

FDC announced the changes in its latest commodity update from November.

Source: Legit.ng