This announcement is further to our disclosure dated 25th July 2022, wherein we informed the Nigerian Exchange Limited (the NGX), our esteemed shareholders and the investing public that BUA Cement Plc (BUA Cement) was considering engaging in certain expansion projects and a debt raise of up to Five Hundred Million US Dollars ($500,000,000.00) from International Finnane Corporation (IFC) in its capacity as lead Arranger in conjunction with other lenders.
We are pleased to inform the NGX, our esteemed shareholders and the investing public, in line with our disclosure obligations pursuant to Chapter 17 of the Rulebook, that BUA Cement has achieved financial close in connection with the Financing to be provided by a syndicate of lending development finance institutions, led by International Finance Corporation (IFC), with participation from African Development Bank (AfDB), Africa Finance Corporation (AFC), and Deutsche Investitions - undEntwicklungsgesellschaft (DEG). BUA Cement intends to utilize this facility to finance the ongoing expansion of its integrated cement plants in Kalambaina, Sokoto State, Nigeria. The expansion will increase the plant's capacity to 8.0 MTPA and as well as facilitate the development of other ancillary utilities.
FOR: BUA Cement Plc.
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Satomi Hauwa
Company Secretary
BOARD OF DIRECTORS
Chairman Abdul Samad Rabiu, CON. MD/Chief Executive Yusuf Binji, FNSE. Directors Chimaobi Madukwe, Kabiru Rabiu, Finn Arnoldsen. Independent Directors Khairat Abdulrazaq Gwadabe, Shehu Abubakar. Company Secretary Hauwa Satomi
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BUA Cement plc published this content on 05 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 June 2023 20:45:44 UTC.
BUA Cement Plc is a Nigeria-based company, which is a cement producer. The Company is engaged in manufacturing and sales of cement to the general public. These activities are conducted primarily in Nigeria. The Company is focused on the production and marketing of cement under the brand name BUA Cement. The Company produces the CEM II type of cement in accordance with the Nigerian Industrial Standards. Its facilities include BUA Cement Plant, Edo and BUA Cement Plant, Sokoto. BUA Cement (Sokoto) is primarily engaged in the business of quarrying, extracting, processing and dealing in limestone, as well as the manufacture and supply of cement. The cement plant is located in Sokoto state, Nigeria. Its depots are located in Lagos, Abuja, Ilorin, Ibadan and Sagamu. It operates the cement industry in Northwest, Southeast and South Nigeria with a production capacity of 11 million metric tons per annum and plants in Sokoto and Edo State, Nigeria.
BUA CEMENT PLC 
