Mangal Industries signs $600m agreement with Sinoma to build cement, power plants in Kogi

Management of 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 Moba, Kogi state, to be completed in early 2024.

According to the Chief Executive, Mr Fahad Mangal in a statement obtained by Nigerian Tribune, the total project cost is approximately $600 million.

He also reiterated the organisation’s resolve to invest strategically in the West African Cement Industry with a view to enable the Nigerian economy to bridge the huge infrastructure and housing deficit in the largest economy of the region.

While expressing delight over the company’s achievements, Mangal explained that the investment was “part of an ambitious investment program under the implementation by Mangal Industries Limited.”

According to him, 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 & economic development and reflects its confidence in the favourable outlook of the economy in the country and the region,” Mangal assured.

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