BUA Group in $1.9billion Deal with China’s Sinoma

BUA Group, Nigerian conglomerate, is in talks with China’s Sinoma to build a steel plant in Nigeria and two cement plants in East Africa for $1.9 billion.

BUA Chairman, Abdulsamad Rabiu told Reuters the two cement plants, which will have an annual capacity of 3 million tonnes each, will cost $700 million.

The steel plant will have a capacity of 1.2 million tonnes and will cost $1.2 billion.