June 7

Nigeria’s BUA Gets $500 Million Funding to Develop New Cement Lines

The IFC and BUA said in a joint statement that the funding would help the company part-finance and develop two new, energy-efficient cement production lines at its plant in Sokoto state, in northwest Nigeria. The funding includes $160.5 million from IFC, $245 million in syndicated loans from African Development Bank, Africa Finance Corporation and the German Investment Corporation, as well as $94.5 million from institutional investors.

Photo courtesy of Al.

Source: Devdiscourse (link opens in a new window)

Energy, Investing, Technology, WASH
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