Mangal Industries Ltd. has said that it signed an agreement with a Chinese firm, Sinoma, for the construction of a cement factory with capacity to produce three million metric tonnes annually.
Alhaji Fahad Mangal, Chief Executive of Mangal Industries Ltd., made the disclosure in a statement in Kano on Friday.
He said that Alhaji Dahiru Mangal, a Katsina-based business mogul and Chairman of Max Airline and AFDIN Construction Company, signed the agreement on behalf of the company.
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He said that the cement factory, to be established in Kogi, would be completed by 2024.
Mangal also said that a 50-megawatt power plant would be established together with the factory at the cost $600 million.
“The factory will rely on the best available technology for cement production in line with the highest environmental standards.
“Mangal is investing strategically in the West African cement industry to bridge the huge deficit in the sector,” he said.
He pledged the company’s commitment to the development of Nigeria and West Africa. (NAN)