February 18, 2016 / 11:11 AM / 4 years ago

Nigeria's BUA in talks with China's Sinoma over $1.9 bln deal

LAGOS (Reuters) - Nigerian conglomerate BUA Group is in talks with China’s Sinoma to build a steel plant in Nigeria and two cement plants in East Africa for $1.9 billion, its chairman said.

Abdulsamad Rabiu told Reuters the two cement plants, which will have an annual capacity of 3 million tonnes each, will cost $700 million. The steel plant will have a capacity of 1.2 million tonnes and will cost $1.2 billion.

Reporting by Chijioke Ohuocha; Editing by Ulf Laessing and Mark Potter

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