Connect with us
deals book
Advertisement
Polaris bank
Advertisement
Oando
Advertisement
Alpha
Advertisement
Hotflex
Advertisement
Binance
Advertisement
Advertisement
UBA
Advertisement
Patricia
Advertisement
Access bank
Advertisement
app

Manufacturing

Lafarge Africa redoubles environmental commitment amid rebound in sales 

..Invests 7.3 million Swiss Francs to curb dust emissions.

Published

on

Lafarge Africa

Lafarge Africa Plc is investing 7.3 million swiss francs to modernize production facilities at its Ewekoro plant. This is part of ongoing efforts to build on its current credential as an environmentally friendly and sustainable company while maintaining a drive for strong financial performance in a tough year.

Country Chief Executive Officer, Khaled El Dokani, said in an interview that the upgrade of the plant, which will require a production stoppage for six months, will eliminate almost completely, dust emissions from the production line. LafargeHolcim, the world’s biggest building materials company, is a leader in the drive to reduce dust emissions, often a byproduct of cement manufacturing.

”At Lafarge, we always take the decisions that serve the environment and our host community best, even though it comes at significant cost,” El Dokani said. To compensate for the production stoppage on the Ewekoro line, El Dokani explained that the company will increase production on other lines. Other lines still in operation will ramp up output having been upgraded in preceding years.

Nigeria’s second largest cement maker recently reported a rebound in third quarter sales after strict lockdown instituted by the federal and state governments depressed revenues in the second quarter. Sales for the three months up to September 2020 was N59.3 billion, up from N56.9 billion in the second quarter, but still lower than the N63.6 billion recorded in the first quarter.

However, while striving to deliver a decent financial performance, the CCEO emphasised that the focus of the company on further setting the precedence in environmental leadership in Nigeria remains a top priority.

He cited the increasing usage of biomass, including oil palm and rice husks, as alternative fuels to power its plants. Most cement plants in Nigeria are powered by coal, gas or low pour fuel oil. Alternative fuels are considered cleaner, more sustainable, and also help surrounding communities dispose of waste more efficiently.

El Dokani said that alternative fuels currently account for up to 40 percent of fuel used to power its Ewekoro plant and the company’s target is to have all plants operating on at least 35 percent alternative fuels by 2023. This transition also offers significant financial benefits.” Based on the current price of gas and coal, the upgrade of our plants (to use alternative fuel) could lead to a 30 percent reduction in our fuel cost”.

Lafarge is also eyeing the construction of concrete roads and affordable housing as key areas to not only diversify from its core cement production business but to further make a positive impact on the environment. “We have signed a memorandum of understanding to execute a 20-kilometer road project in Cross Rivers State as a sustainable solution given the weather conditions in the area,” said El Dokani. He cited the swampy topography of the Southern Nigeria state as unsuitable for asphalt roads and therefore justifies the use of concrete to pave roads. While asphalt paving generally costs less than concrete paving, concrete roads are considered more durable and more environmentally friendly as compared to asphalt roads.

Hotflex

In addition, the company is exploring the affordable housing space for a sound business model that can catalyse its direct involvement in construction, the CCEO said.

Lafarge Africa’s focus on sustainability and the environment is consistent with the Circular Economy principles of LafargeHolcim, its Swiss parent company, on responsible stewardship. According to El Dokani, the Swiss multinational building materials group is the first global building solutions company to sign the “Business Ambition for 1.5°C” pledge with intermediate targets approved by the Science-Based Targets initiative (SBTi), an initiative that champions science-based target setting as a way of boosting companies’ competitive advantage in the transition to the low-carbon economy. Under its SBTi commitment, LafargeHolcim has lowered its target for CO2 intensity in cement to 475kg net CO2 per ton of cementitious material (net CO2/t.cem.) by 2030.

El Dokani mentioned that LafargeHolcim, through its responsible behaviour, commitment to global best practice and adoption of best in class technologies will remain a world leader in delivering infrastructure solutions in an environmentally friendly manner.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Energy

BUA Group awards contract for polypropylene plant in its refinery project

The completion of the project is to help boost Nigeria’s capacity to meet the country’s increasing demand for petrochemical products.

Published

on

BUA Group chairman, Abdulsamad Rabiu, African Continental Free Trade Agreement, AfCFTA, CCNN

Nigeria’s leading indigenous conglomerate, BUA Group has announced that it has signed a contract agreement with Lummus Technology for the establishment of a polypropylene plant in its refinery and petrochemical project.

The completion of the project is to help boost Nigeria’s capacity to meet the country’s increasing demand for petrochemical products.

The Chairman of BUA Group, Abdul Samad Rabiu, while disclosing the contract agreement, expressed confidence in the capacity and technical expertise of Lummus Technology to deliver a best-in-class project.

READ: BUA says its export-focused sugar project will create jobs and checkmate price hike

What the Chairman of BUA Group is saying

Rabiu in his statement said, “We are pleased to sign this polypropylene contract for our BUA refinery and petrochemicals project with Lummus Technology, a world leader in delivering polypropylene solutions, which will solve the increasing demand for high-performance grade polypropylene in Nigeria, the Gulf of Guinea as well as the Sub-Saharan Africa Region.

“We are confident in the capacity and technical expertise of Lummus Technology to deliver a best-in-class, 285,000 tpy polypropylene unit for our refinery project scheduled to come on stream in 2024.’’

READ: Dangote, BUA reconcile over sugar plant dispute after meeting with Ganduje, others

What the President/Chief Executive Officer of Lummus Technology is saying

On his part, the President/Chief Executive Officer of Lummus Technology, Leon de Bruyn, said that he was looking forward to working with BUA refinery on the project.

Hotflex

Leon said, “We look forward to working with BUA Refinery on this critical project and supporting the first Novolen polypropylene unit in Nigeria. Our world-class Novolen technology is well suited to meet Nigeria’s increasing demand for the growing petrochemical products market.

It offers a flexible range of industry-leading products for all PP applications, and the industry’s lowest overall capital and operational costs while providing customers with high process reliability and flexibility in responding to market needs.”

READ: BUA Group, French company announce progress in 200,000 bpd refinery project

What you should know

Lummus Novolen Technology GmbH licenses polypropylene technology and provides related engineering and technical support/advisory services. Novolen also supplies NHP® catalysts for the production of high-performance polypropylene grades in the Novolen process, and NOVOCENE® metallocene catalyst for the production of special polypropylene grades.

Continue Reading

Companies

Our First Bank loan is being serviced, reduced by 30% in 2 years – Honeywell Group

The credit facilities accessed from First Bank were granted after due negotiations, with the necessary documentation and in line with regulatory policies and industry standards.

Published

on

Billionaire watch: Oba Otudeko’s stakes in Firstbank and Honeywell are worth N10.3 billion

The Honeywell Group has said that its loan with First Bank is being serviced as the conglomerate had reduced the facility by 30% in the last two and half years.

This was disclosed by the Group via a statement issued on Sunday and seen by Nairametrics.

According to the statement, the company and the bank have had a professional business relationship since 1975, which preceded the group’s investment in the bank over a decade later.

According to the Honeywell Group, the credit facilities accessed from First Bank were granted after due negotiations, with the necessary documentation and in line with regulatory policies and industry standards.

The Group further explained that following agreed terms, its facilities are adequately secured with First Bank with collaterals in place at over 170% of forced sales value and 230% at open market value.

It stated, “In 2015, First Bank under the directive of the Central Bank of Nigeria, drew our attention to a 2004 circular (BSD/9/2004) which requires that insider related facilities must not exceed 10% of paid-up share capital.

Based on this directive we subsequently entered negotiations with the bank to agree on an appropriate repayment structure and the final negotiated position was duly approved by the CBN.

In addition to the above, First Bank, on the directive of CBN, requested additional security in the form of FBN Holdings Plc shares held by the Chairman of Honeywell Group, Dr Oba Otudeko citing a 2001 circular. This was duly provided through an authorisation to place a lien on the shares.”

Honeywell Group has continued to meet all its obligations on its facilities with the bank according to agreed terms and has reduced its exposure by nearly 30% in 2.5 years. The facilities were charged at market rate and the bank continues to earn significant interest therefrom.”

What you should know

  • Nairametrics had reported when the Central Bank of Nigeria directed Honeywell to fully repay its obligations to First Bank within 48 hours, warning that failure to do so would cause the CBN to take regulatory measures against the insider borrower and the bank.
  • The Chairman of Honeywell Group, Oba Otudeko, also served as Chairman of FBN Holdings Plc until he was asked by the apex bank to go along with other directors on Thursday.
  • The apex bank had noted in a letter last Wednesday that First Bank had yet to comply with regulatory directives on divesting its interest in Honeywell despite several reminders.
  • Also, the CBN asked First Bank to forward evidence involving the divestment of interest in Honeywell Flour Mills and Bharti Airtel Nigeria Ltd within 90 days.

Download (PDF, 525KB)

Continue Reading

  





Nairametrics | Company Earnings

Access our Live Feed portal for the latest company earnings as they drop.