BUA Group, FL Smidth signs contract
The BUA Group of companies announced the signing of a $500 million contract with FL Smidth for the construction of a 2 million tonnes per annum cement plant in Edo State. The project is scheduled for completion by August 2013. Chairman of BUA Group, Alhaji Abdulsamad Rabiu siad during the signing ceremony in Abuja that the project will generate over 4,000 skilled jobs and over 20,000 indirect jobs. "The $500 million involves the cement, infrastructures, power plant which is 100 mgw and other itineraries. So we are looking at about $500 million in total by the time this project is completed," he said. After series of negotiations with FL Smidth the project was signed and this project of 2 million tonnes per annum production capacity will take 28 month to complete. "At the end of this project this administration's vision of self sufficiency in cement and massive job creation will be achieved", said Rabiu. "This project was supposed to hold about a year ago, but because of the process or processes that we had to go through, it took us a bit longer. We initially thought of giving this project to a Chinese company still working in Nigeria, on the advice of our consultants, but we decided to go with a world renowned company", added Rabiu.