The Chairman of Flour Mills of Nigeria, John Coumantaros has said that Flour Mills and BUA Group have made the commitment and partnership to enhance food security in Nigeria.
This was disclosed in a press statement released to the Herald after Coumantaros’ courtesy call on the Chairman of BUA Group at the Headquarters in Lagos.
Speaking on the visit, Executive Chairman, BUA Group, Abdul Samad Rabiu said, ”
I am pleased to receive Chairman Coumantaros here at the BUA Hq to further discuss our shared commitment and partnership in enhancing food security in Nigeria.”
“Nigeria, and indeed, Africa is blessed with enough resources to make her the food basket of the world. We must keep joining hands to make this a reality.”, he added.
BUA Group and Flour Mills are two of West Africa’s largest investors in the foods and agribusiness sector.
READ ALSO: FIRST BANK Wins 2019 Oil And Gas Banker Award
BUA Group, a company which has largely developed over 20 years, having its stake in a wide range of diversified business sectors, consolidated its cement business comprising the publicly listed 2million Mtpa Cement Company of Northern Nigeria Plc (CCNN) and 6million mtpa Obu Cement Company Plc, in October 2019.
The consolidation was made in anticipation of enhancing the growth of the cement industry and boosting the Nigerian economy.
The group also announced that its newest 3million metric tonnes cement plant which it started constructing in 2018 – the $450million dollars Sokoto Kalambaina II plant, is scheduled for completion in H2, 2020.
“With the consolidation and addition of the Sokoto Kalambaina II plant, this will bring BUA Cement’s total installed capacity across all its cement holdings to 11 million MTPA.
“Commenting, Abdul Samad Rabiu, Founder & Executive Chairman of the Group, said that this consolidation marks the culmination of the first phase of the BUA mid-term strategic plan for its cement businesses, which currently include four cement plants spread across Obu Cement Company and the Cement Company of Northern Nigeria.
“A new $450million Sokoto Kalambaina II Plant is scheduled to come on stream in the second half of 2020 alongside another 48MW power plant to complement the existing assets and take advantage of a growing cement market in Northern Nigeria and the West African region.