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BUA Cement to source for capital for capacity expansion

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BUA Foods Plc gives notice of resignation of Isyaku Rabiu as director

Adebayo Obajemu

BUA Cement has given notice to the Nigerian Exchange and investing public of its intent to raise capital for capacity expansion.

In the notification available on the website of the Nigerian Exchange, the cement giant indicated it has gone into discussion with the International Finance Corporation (IFC), serving as lead arranger in conjunction with a number of other lenders in a syndication pool, to obtain a loan for the expansion of BUA Cement’s integrated cement plant in Kalambaina, Sokoto State which shall include increasing its 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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