AfDB and IFC co-finance $100m BUA Cement Plant in Sokoto
As part of a $350 million project, the plant is increasing its production capacity fivefold. In addition to a $150 million loan, IFC is acting as an arranger for the cement company, 98% owned by Nigerian businessman Abdul Samad Rabiu. Sinoma and Wärtsila are in charge of implementation.
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▪ AfDB and IFC co-finance $100m BUA Cement Plant in Sokoto
▪ As part of a $350 million project, the plant is increasing its production capacity fivefold. In addition to a $150 million loan, IFC is acting as an arranger for the cement company, 98% owned by Nigerian businessman Abdul Samad Rabiu. Sinoma and Wärtsila are in charge of implementation.
▪ https://www.africabusinessplus.com/en/814398/afdb-and-ifc-co-finance-100m-bua-cement-plant-in-sokoto/
A loan of up to US$100 million will be the contribution from the African Development Bank (AfDB) towards financing BUA Cement plc’s Kalambaina cement plant in Sokoto State, according to an internal document dated 9 January and seen by Africa Business+.
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