Chinese Firm Signs $600M Agreement To Build Cement Plant In Kogi State.
As part of its expansion efforts, Mangal industries has signed an agreement with a Chinese firm Sinoma for the construction of three million metric tons per year Cement Plant and fifty megawatts captive power plant close to Mopa in Kogi state.
The project is agreed to be completed in early 2024.
A statement by the firm’s chief executive, Fahad Mangal, released to newsmen in Abuja, said the total project cost is approximately at Six hundred million Dollars ($600Million).
According to the statement, the investment is part of an investment program under the implementation by Mangal Industries Limited.
“The factory will rely on best available technology for cement production and in line with highest environmental standards. It is designed to be one of the most sustainable in the sector.”
“Mangal is investing strategically in the West African Cement Industry to enable the Nigerian economy to bridge the huge infrastructure and housing deficit in the largest economy of the region.
“This investment reinforces Mangal’s commitment to Nigeria’s infrastructural & economic development and reflects its confidence in the favourable outlook of the economy in the country and the region.”