New Cement Plant to Alters Nigeria’s Cement Industry Duopoly
http://oguntoday.blogspot.com/2014/10/new-cement-plant-could-alter-nigerias.html
VENTURES AFRICA – Nigeria’s newest cement operator, the International Cement Company Limited (ICCL) has said its cement factory located in Sagamu, Ogun State, a prime industrial cluster, is expected to begin operation by in 2016, a move that could alter what is considered a duopoly of the market, with Africa’s top cement producer Dangote and French producer Lafarge holding a majority of the market share.
International Cement Company Limited (ICCL) sits on 1,415 hectares of land, covering nine communities including Ayetoto, Makun and Sagamu.
ICCL Managing Director, Ken Mordi said the company has obtained a 21 year operational licence and has received $500 million from China’s Export-Import Bank to allow a smooth entry phase. It has also employed Cesa, a cement engineering firm as a consultant for the project, confirming its seriousness to break the existing status quo.
On its production capacity, Mordi said “a total of 3,600 tonnes of cement will be produced per day. Eighty percent shall be bagged and 20 percent will be bulked.” About 3,000 direct jobs will also be provided to Nigerians at the launch of the company’s operation.
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