An indigenous Nigerian firm, Mangal Industries has signed an agreement with a Chinese Firm, Sinoma, for the construction of $600 million cement and power plants in Mopa, Kogi state.
In a statement issued by the chief executive officer of Mangal Industries, Engr. Fahad Mangal in Abuja on Thursday, the construction which is to be handled by the Chinese company, Sinoma and expected to be ready by early 2024, will deliver a 3 metric tons of cement per year, as well as a 50 Megawatts power plant.
According to the statement, the investment is part of an ambitious investment program under the implementation by Mangal Industries Limited.
“Mangal Industries has signed an agreement with a Chinese Firm, Sinoma for the construction of 3 million metric tons per year Cement Plant and 50 Megawatts Captive Power Plant in Mopa, Kogi state, to be completed in early 2024.
“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,” he said.
Mangal noted that the factory would rely on best available technology for cement production and in line with highest environmental standards.
He said the cement factory was designed to be one of the most sustainable in the sector.
Chairman of Mangal Industries. Alhaji Dahiru Mangal performed the signing ceremony on behalf of his company, with the project expected to generate thousands of jobs upon completion.
