NIGERIA – BAUCHI SEALS U.S.$864 MILLION CEMENT PRODUCTION DEAL

The
Bauchi State government has signed a $864 million agreement with an American
Investment company to produce cement at the Gwana Cement Factory.

The
Governor of the State, Senator Bala Mohammed, made the disclosure on Friday, at
the opening ceremony of a three-day Special Retreat for the FCT Minister’s
Press Corps in Bauchi.

The
governor, who was represented by the Chief of Staff, Bauchi State, Abubakar
Kari, also said the Constant Return to Scale (CRS) of the investment was worth
N2billion.

He also
said that in the area of infrastructure, the government had signed a Memorandum
of Understanding for the execution of Kujuru Solar Power Project at
$100million, with the Kuwait government for investment of up to $200million, in
addition to an agreement with Family Homes Funds for the provision of 2,500
housing units to be distributed across the state at the total cost of N15
Billion.

“In
order to give more dividend of democracy to the good people of Bauchi State,
government has awarded contracts for the construction of 92.6 km of roads
across the State at the cost of N17.3 billion.

“About 50% down payment has been paid and the completion period is between one year and a maximum of three years,” he said.https://allafrica.com/stories/201910280206.html