Sokoto –  The Managing Director, Cement Company of Northern Nigeria (CCNN) , Sokoto ,  Mr Alf Karlsen, said on Wednesday that the firm planned to raise N45 billion for a new one million tonne production line.

He said that the money would be raised through  a combination of a convertible debenture (by way of rights ) and a rights issue to finance the clinker production line .

Karlsen in Sokoto that ,said ‘’if approved the new production line can be commissioned in 2014” .

‘’ The expansion will be done in order to ensure that CCNN remains a competitive manufacturer in the Nigerian cement market ,’’ he added .

According to Karlsen , the company will soon order a  new excavator , dozer and dumper truck which will cumulatively  gulp more than N 350 million .

In the same vein , ‘’  a new girth gear for one of the cement mills has been ordered at the cost of N110 million as well as a roto packer worth N225 million ,’’ he added.

The CCNN boss further said that additional tanks for LPFO storage would be constructed  this year at the cost of N140 million .

‘’ The nine cooler  tubes for the kiln  will be replaced in 2011 / 2012 at more than N400 million to boost production .

‘’ Due to the difficult LPFO supply situation, the board has approved investments for converting to coal or pet coke as  kiln fuel at the estimated cost of N2.4 billion ,’’ Karlsen , added .( NAN)