Mangal Industries Limited, an indigenous Nigerian firm has signed an agreement with a Chinese firm, Sinoma for the construction of three million metric tons per annum Cement and 50 Megawatts Captive Power Plants in Moba, Kogi state at the cost of $600 million.
Fahad Mangal, Chief Executive Officer, Mangal Industries Limited, said the project which is to be completed in early 2024 is part of an ambitious investment programme under implementation by the company.
Mangal in a statement in Abuja said the factory will rely on the best available technology for cement production and be in line with the highest environmental standards, adding that 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,” he stated.
