(Ecofin Agency) - The Nigerian group BUA recently revealed that it was negotiating with the Chinese firm Sinoma CDI regarding cement and steel projects. According to Reuters, BUA and its associate will invest $1.9 billion in the construction of a steel plant in Nigeria and in two cement plants in Eastern Africa.

The business mogul Abdulsamad Rabiu, owner of BUA group, said the two cement plants will cost $700 million overall and each will have a production capacity of 3 million tons/annum. As for the steel plant, it will cost $1.2 billion and produce 1.2 million tons yearly.

The state-run company Sinoma is the global leader in terms of engineering and equipment in the cement industry.

Aaron Akinocho