₦airaland Forum

BUSINESS Nigeria’s Ibeto Cement to build $386-mln plant By PanAtlantic Journal Staff
onOctober 21, 2015


China’s Sinoma International Engineering Co., Ltd, a wholly owned subsidiary of Zhejiang Sinoma Engineering Design & Research Institute Co., Ltd. has announced that it has recently signed a contract on a cement project worth $386 million with Nigeria’s Ibeto Cement Co

In a corporate notice, the company stated that the project area is located in Enugu, Nigeria. Scope of the contract includes a Nissan 6000 tons of cement clinker production line from crushing limestone mining, cement raw materials to packaging, shipped to the whole process and a 45MW captive power plant, covering engineering design, equipment, steel and material supply, civil works, installation, commissioning and personnel training.

The project cost is estimated at $ 386,000,000....... Link:www.pa-journal.com/sinoma-inl-engineerings-unit-signs-386-min-contract Cc: Lalasticlala

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Moderators front page please!!!!

sinoma again?

No link to story

This is the best logical move. It will reduce price of cement and transport in SE.

He has started to shine his eyes. They are beginning to clear.

baralatie:
sinoma again?

what's the story behind sinoma?

Nice one.

This man Is really coming out stronger

Obj said he wasnt loyal. So has to go down.

U shall.go from victory to victory

Music to my ears!

So what happened to Nkalagu cement? Is he still having issues with the Ebonyi gov't over it?

Ibeto is the highest indigenous employer of Labour in the Eastern Nigeria quote me anywhere!!!..... This is just the Bigginning!!!

Ciscogod:
Nice one.

This man Is really coming out stronger

Obj said he wasnt loyal. So has to go down.

U shall.go from victory to victory

^^^Forget OBJ bros! I'm sure there's more to the story than just not being loyal!

IGBOSON1:
Music to my ears!

So what happened to Nkalagu cement? Is he still having issues with the Ebonyi gov't over it?

That's what I am trying to find out!. It seems from the picture work has advanced there already making me to believe that it is still in Nkalagu area of Ebonyi State!. It may be that the Corporate Headquaters of Ibeto Cement may be in Enugu!

Bring your investments home

He who has ear let him/her follow ibeto example

Oga Afam front page please!!!!

I will be building $1trillion cement refinery here in Nairaland

finally
some competition
economically and regionally

IGBOSON1:
^^^Forget OBJ bros! I'm sure there's more to the story than just not being loyal!

Shey? U may not be far from the truth thou.

Lalasticlala see newsooo!!!!

I hope this cement become the most patronized in the east and send dangote's cement sales crashing.
He should go and sell his cement where he has his plants.

Source:
http://af.reuters.com/article/nigeriaNews/idAFL3N12L3VI20151021

The kind of news i like reading.... Jobs for our youths...

See how World news organs reported it=>
Sinoma to build US$386m cement plant for Ibeto Cement

Written by Global Cement staff
22 October 2015
Print Email
Nigeria: China National Materials Company's Shanghai-listed subsidiary Sinoma International Engineering Co Ltd has entered into an engineering, procurement and construction contract with Ibeto Cement Company Limited for a 6000t/day clinker line and 45MW self-generation power plant in Enugu, Nigeria. The contract is worth US$386m. It covers the whole process, from the exploitation of limestone mines and the crushing of raw materials, to the packing and delivery of cement and a captive power plant and includes engineering design, supply of equipment, steelwork and materials, civil construction, installation, debugging and staff training.

Ibeto Cement in $390 million deal with Chinese firm
21 Oct 2015, 06:39 pm
Chibuike Oguh


- The cement plant will have an installed capacity of 2.2 million metric tonnes.

- Sinoma Engineering has become a Chinese contractor of choice for Nigerian cement companies.



Ibeto Cement, a major cement importer, has signed a contract with a Chinese firm, Sinoma International Engineering, to build a $386 million cement plant in Enugu State.

The cement plant will have an installed capacity of 2.2 million metric tonnes of cement per year and would be completed in 30 months, according to a statement posted on the website of the Chinese firm today.

In June, the Central Bank of Nigeria announced the restriction of foreign exchange for the importation of certain goods, including cement. This measure, perhaps, forced Ibeto Cement to ramp up its local production.

In 2012, Ibeto Cement acquired majority shares in Nigeria Cement Company, a comatose cement-manufacturing firm located in Ebonyi State. But the state government shut down the plant, claiming that Ibeto Cement used the plant to acquire import licenses instead of resuscitating the plant.

With Ibeto’s new plant, Nigeria’s installed capacity is expected to rise above 40 million metric tonnes per year, far beyond the local annual consumption of over 20 million metric tonnes. Many cement plants in Nigeria operate below their installed capacities as a result of the rampant importation of cheap cement mainly from China, inadequate gas supplies to power cement plants and high haulage costs.

In September, Dangote Cement slashed its cement prices in an attempt to boost local consumption and compete with cheap imports. This move led to an industry-wide lowering of cement prices by cement companies to maintain market share. The cement industry in Nigeria is dominated by four companies: Dangote Cement, the market leader, Lafarge Africa, BUA Cement and Flour Mills of Nigeria.

Nigeria’s cement industry has benefited from the federal government’s backward integration policy, which was initiated in 2002 to encourage local production of cement. Since that time, more than $6 billion in capital projects have been launched.

With the Ibeto Cement deal, Sinoma Engineering has become a Chinese contractor of choice for most Nigerian cement companies. In August, Dangote Cement signed a $4.34 billion deal with the Chinese firm to build cement plants in 10 African countries and Nepal. In September, BUA Cement signed a $600 million deal to double the capacity of its cement plant in Obu, Edo State.

Chibuike Oguh is Financial
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IGBOSON1:
Music to my ears!

So what happened to Nkalagu cement? Is he still having issues with the Ebonyi gov't over it?

work is in progress there at d moment maybe that's the place they are talking about cos lots of Chinese engineers are currently doing some work there.

[url=http://]WWW.GETRICH.COM/500000NAIRA[/url]

Pinopinoguy:
work is in progress there at d moment maybe that's the place they are talking about cos lots of Chinese engineers are currently doing some work there.

Or he is building two

investnow2013:
Moderators front page please!!!!

give us links so that the ofe mmanu will confirms that we ve dominated our lands before moving to the zoo..

This is good news

Will provide hundreds of jobs both during the construction process and afterwards.

This re the kind of news I need in my new country. They re news that will shame the black animals from the zoo.

Quote me anywhere..

eeeeeee:
This is good news

Will provide hundreds of jobs both during the construction process and afterwards.

You can see from the picture supplied by The company, construction has gone far!