Mangal Industries Limited is planning to invest $600million in the construction of cement and power plants in Moba, Kogi State.
The company is a statement on Thursday said it had signed an agreement with a Chinese Firm, Sinoma, for the construction of three million metric tons per year cement plant and 50 megawatts power plant in Moba, Kogi State.
The Chief Executive Officer, Mangal Industries Limited, Engr Fahad Mangal, said the project will be completed in 2024.
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He said, “The factory will rely on best available technology for cement production and in line with highest environmental standards.
“It is designed to be one of the most sustainable in the sector.
“Mangal is investing strategically in the West African Cement Industry to enable the Nigerian economy to bridge the huge infrastructure and housing deficit in the largest economy of the region.
“This investment reinforces Mangal’s commitment to Nigeria’s infrastructural and economic development and reflects its confidence in the favourable outlook of the economy in the country and the region.”
