By Franklin Alli
Bua Group has extended its investment in the manufacturing sector with a N7.5 billion pastaÂ factory productionline.
Currently, the group has business interests spanning from manufacturing of sugar, cement, flour milling, oil milling, and port concession including real estate , oil and gas and shipping, and is now investing in the production of pasta.
According to the Group Chief Operating Officer, Mr. Chimaobi Madukwe, the new investment is a fresh value addition to the economy in terms of employment generation and consolidating the groupâ€™s interest in the industrial landscape.
He stated that the facility which is sitting on a 1.5 hectares at Sunrise bus stop, Apapa, Lagos, is being constructed by a renown Italian company called Farve, and the entire building is a steel structure imported from Turkey.
He said that the investment, which is worth $50 million (about N7.5 billion), will provide direct and indirect employment for at least 1,000 Nigerians, after the project is completed.
â€œThe project will be completed by the targeted date (October this year). All the equipment are onÂ ground.Â That is why we are optimistic of our completion date,â€ he said.
â€œThe factory after completion would have wheat silo, Semolina factory, and pasta production plant including a massive water treatment plant to supply the entire factory with pure and wholesome water ,â€ the Project Manager, Anthonie Van der Biji said
According to him, the Semolina plant alone, has the capacity to produce 500 tonnes daily, while the pasta factory is able to produce 240 tonnes of pasta per day, and about 6,000 tonnes of pasta per month, stressing that the plant is powered by four gas power plants. Saturday Vanguard gathered that Abdulsamad Rabiu, Chairman/CEO of the BUA group of companies, has nurtured the group to a world-class conglomerate.
BUA International Limited, the parent company and arrowhead was set up over 20 years ago, as a Private Limited Liability Company to undertake the importation and marketing of iron & steel, agricultural, industrial chemicals and other manufacturing activities.
While consolidating on its various achievements, the Group continues to explore actively – locally and internationally – for sound pockets of investment in line with the groupâ€™s vision of unlocking opportunities and remaining a first class regional and international conglomerate.The Groupâ€™s subsidiary companies include BUA Flour Mills Limited.