Jonathan Commissions N100bn Cement Plant In Gombe
President Goodluck Jonathan yesterday performed the ground-breaking of the N100billion expansion project for Ashaka Cement’s new 2.5million metric-tonne capacity cement production line in Gombe, Gombe State.
The project, which is expected to be completed within three years, will increase the company’s current production capacity of over one million metric tonnes to about four million metric tonnes, while creating job opportunity for many.
Jonathan, who was represented by the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, said the new investment was a testimony of global investors’ growing confidence in the Nigerian economy as well as the Federal Government’s commitment to transforming the Nigerian economy.
He said this just as he disclosed that government has commenced the process of slashing the price of cement. The President reiterated that the current administration would continue to provide conducive environment for industry, trade and investments to thrive.
The President said, “As at 2002, the local cement industry had the capacity to barely produce two million metric tonnes per annum. By the year 2013, this had grown to 28.5 million metric tonnes and we expect the installed capacity to be about 39 million metric tonnes by the end of this year. Today, the Nigerian cement industry has attracted $8billion in both local and foreign investments and supports approximately 1.6 million jobs. The industry also serves as the fulcrum of the housing and construction sectors. These sectors now contribute 11.13 per cent to Nigeria’s forecast Gross Domestic Product for 2013.”
The project, which is expected to be completed within three years, will increase the company’s current production capacity of over one million metric tonnes to about four million metric tonnes, while creating job opportunity for many.
Jonathan, who was represented by the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, said the new investment was a testimony of global investors’ growing confidence in the Nigerian economy as well as the Federal Government’s commitment to transforming the Nigerian economy.
He said this just as he disclosed that government has commenced the process of slashing the price of cement. The President reiterated that the current administration would continue to provide conducive environment for industry, trade and investments to thrive.
The President said, “As at 2002, the local cement industry had the capacity to barely produce two million metric tonnes per annum. By the year 2013, this had grown to 28.5 million metric tonnes and we expect the installed capacity to be about 39 million metric tonnes by the end of this year. Today, the Nigerian cement industry has attracted $8billion in both local and foreign investments and supports approximately 1.6 million jobs. The industry also serves as the fulcrum of the housing and construction sectors. These sectors now contribute 11.13 per cent to Nigeria’s forecast Gross Domestic Product for 2013.”
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