NIGERIA – BAUCHI SEALS U.S.$864 MILLION CEMENT PRODUCTION DEAL

The Bauchi State government has signed a $864 million agreement with an American Investment company to produce cement at the Gwana Cement Factory.

The Governor of the State, Senator Bala Mohammed, made the disclosure on Friday, at the opening ceremony of a three-day Special Retreat for the FCT Minister’s Press Corps in Bauchi.

The governor, who was represented by the Chief of Staff, Bauchi State, Abubakar Kari, also said the Constant Return to Scale (CRS) of the investment was worth N2billion.

He also said that in the area of infrastructure, the government had signed a Memorandum of Understanding for the execution of Kujuru Solar Power Project at $100million, with the Kuwait government for investment of up to $200million, in addition to an agreement with Family Homes Funds for the provision of 2,500 housing units to be distributed across the state at the total cost of N15 Billion.

“In order to give more dividend of democracy to the good people of Bauchi State, government has awarded contracts for the construction of 92.6 km of roads across the State at the cost of N17.3 billion.

“About 50% down payment has been paid and the completion period is between one year and a maximum of three years,” he said.https://allafrica.com/stories/201910280206.html