Bauchi signs MOU to establish $1.5b Resident cement company

Bauchi State Governor, Senator Bala Abdulkadir Mohammed has signed a Memorandum of Understanding with Resident Cement Factory Ltd to establish a $1.5 billion cement company in the state. The Governor who signed the MoU at the Bauchi Government House yesterday, said the landmark MOU attests to the government’s commitment to simplifying business activities, which has […]

Bauchi State Governor, Senator Bala Abdulkadir Mohammed has signed a Memorandum of Understanding with Resident Cement Factory Ltd to establish a $1.5 billion cement company in the state.

The Governor who signed the MoU at the Bauchi Government House yesterday, said the landmark MOU attests to the government’s commitment to simplifying business activities, which has now progressed to an appraisal level.

The $1.5b investment, according to Mohammed, includes the provision of construction of a water dam, trailer park, housing units, and other social amenities in Gwana community of Alkaleri Local Government Area of the state.

He explained that his administration will ensure there is no hindrance to businesses even as he remains committed to deepening community engagement.

The governor while commending Gwana community, Ministry of Natural Resources and the resilient of the management and staff of the Resident Cement Factory for the display of purposefulness, synergy and focus, said his administration will handle the business differently in a manner that the MoU will not be neglected, assuring that the local contents will be looked at.

Responding, the Group Chairman, Resident Cement Factory Ltd, Dr Junaid Abbas Waziri said the partnership will enable the company proceed with the project,  assuring that all is set to commence in the 1st quarter of 2025.

He commended the governor Bala’s exceptional leadership and commitment to the development of Bauchi State, adding that the Resident Cement LTD tends to establish 10m ton cement, calling for continued support for the success of the project.