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LequteMan
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Nigeria - BUA Group is set to challenge Dangote's dominance over the Nigerian market, especially in the cement sector.
BUA which currently controls 10% of the market ranks third in Nigeria's cement market - after Dangote and Lafarge.
But BUA Cement, which was incorporated in 2008, is aiming to topple Lafarge and then aim at Dangote itself, in the struggle for number one.
BUA, with interests in pasta, steel and real estate, has three cement producing plants in Nigeria, the first being the Port Harcourt plant which was commissioned in 2011. This was followed with acquisitions of Cement Company of Northern Nigeria in Sokoto and Obu Cement Plant in Edo state.
An indication of BUA’s ambition was demonstrated in the company’s signing of a $600 million worth of contracts with China’s Sinoma International Engineering Co. to double capacity at its flagship cement plant in Obu as it seeks to expand market share in Africa’s biggest economy.
The rapid expansion and intense competition among cement makers in Nigeria and Africa generally are targeting a boom in Construction projects across Africa.
A 2014 report by Deloitte estimated that the projects were worth around $325 billion last year, up nearly 50 percent from the previous year as power, transport, oil and gas and real estate sectors expanded.
BUA which currently controls 10% of the market ranks third in Nigeria's cement market - after Dangote and Lafarge.
But BUA Cement, which was incorporated in 2008, is aiming to topple Lafarge and then aim at Dangote itself, in the struggle for number one.
BUA, with interests in pasta, steel and real estate, has three cement producing plants in Nigeria, the first being the Port Harcourt plant which was commissioned in 2011. This was followed with acquisitions of Cement Company of Northern Nigeria in Sokoto and Obu Cement Plant in Edo state.
An indication of BUA’s ambition was demonstrated in the company’s signing of a $600 million worth of contracts with China’s Sinoma International Engineering Co. to double capacity at its flagship cement plant in Obu as it seeks to expand market share in Africa’s biggest economy.
The rapid expansion and intense competition among cement makers in Nigeria and Africa generally are targeting a boom in Construction projects across Africa.
A 2014 report by Deloitte estimated that the projects were worth around $325 billion last year, up nearly 50 percent from the previous year as power, transport, oil and gas and real estate sectors expanded.
