Renowned cement manufacturer, Lafarge Africa Plc, on Wednesday announced plans to expand its acquired Ashakacem plant in Gombe State and its Sagamu plant in Ogun State to ramp up cement production to meet the ever-increasing demands in Nigeria, news.ng reports.
This was disclosed in a notice signed by Adewunmi Alode, the company’s Legal Director and Secretary, stating that both plants will be operating at optimum levels of 2MT and 3.5MT annually, respectively.
According to the notice, “Lafarge Africa Plc (“the Company”) hereby notifies the Nigerian Exchange Limited and the investing public of its plan to expand its Ashakacem Plant in Gombe State and Sagamu Plant in Ogun State. Upon completion, Ashakacem and Sagamu Plants’ total capacity will be 2MT and 3.5MT per annum, respectively.”
This move by the company is aimed at expanding Lafarge Africa’s cement production footprint across the northern and south-western regions in the country.
From the investors’ point of view, the audacious move by Lafarge Plc will reposition the company to meet the anticipated demands and growth in the engineering and construction sector.
Also, it is believed that upon the completion of the plants, it will enable the company to improve in their operational efficiency, scale profits and increase its presence in the market.
Alode highlighted: “These investments reflect the Company’s strategic focus on supporting Nigeria’s infrastructural growth, improving product availability and delivering long-term value to shareholders.”
