VENTURES AFRICA – Nigerian conglomerate, BUA Group has announced that a cement plant for its subsidiary, Edo Cement Company – valued at $500 million with a three million metric tonnes per annum capacity – is near completion and would be commissioned in Okpella, Edo State early 2014.
Billionaire businessman and Chairman, BUA Group Alhaji Abdulsamad Rabiu, disclosed this at the signing of the $35 million contract agreement between the company and Siemens to build a new gas turbine power plant for the cement factory.
Rabiu stated that the capacity of the plant would significantly contribute to product availability to Nigerian consumers.The agreement signed at BUA’s London office bind Siemens to supply three SGT 500 turbines manufactured by Siemens Industrial Turbo Machinery AB in Finspang, Sweden with a total capacity of about 45 megawatts to supply power to the ultra-modern $500 million Edo Cement Plant, a statement released by the company said.
It added the SGT-500 turbines are unique for the African market because they offer flexibility in optimising investment returns, extremely low maintenance costs, high reliability and limited number of personnel required for their operation and maintenance.
Expressing delight at Julius Berger Plc’s pace of work at the cement company, Rabiu said he is “very impressed so far by the civil construction work done by Julius Berger. 70 percent of the cement plant equipment have been shipped and are currently on site, and the pace of work by Julius Berger is very comprehensive and impressive.”