Nigeria: Ashaka Cement expansion plans go to next level
A subsidiary of Lafarge, Ashaka Cement’s (AshakaCem) expansion plans have gone to the next level as the firm has secured N50 billion credit facility, in addition to internally generated cash flows. The cement maker has also now acquired sufficient limestone and coal reserves to support the existing and new plants, and signed contracts for equipment and engineering supplies.
The detailed design of the equipment is in progress, while mobilisation of resources has begun. The infrastructure which is expected to support the erection of the new plant, is now underway.
AshakaCem recently said all members of the board of directors and its management team, with support by experts from other Lafarge Group’s businesses across the globe, were currently devoting energy to fast-track the expansion project, in order to guarantee the future of the company, enhance jobs creation in the North-East (where it operates) and deliver economic and social welfare to the immediate communities.