Katsina-born Dahiru Mangal has completed a $1.5 billion cement plant in Moba, Kogi State, and rolled out the first cement from the facility .
The Mangal Cement Company Limited officially commenced business to rival the big players such as Dangote, BUA, and Lafarge cement.
The new facility to produce 200 trucks daily
The facility will produce about 200 cement trucks daily, which analysts say will create direct and indirect jobs.
ThisDay reports that Mangal Industries signed a deal with a Chinese company, Sinoma, to build the facility in November 2021.
The facility’s initial cost was projected at $600 million, but it increased to $1.5 billion due to the naira crash.
Fahad Mangal, the company’s chief executive officer, promised a state-of-the-art, technology-driven facility that poses no threats to the environment.
The many businesses of Mangal The Max Air boss is reportedly involved in many ventures, including transportation, textile, agriculture, oil and gas, and construction. The development comes as Dangote Cement reportedly lost about N1 trillion in market share in July as investors’ sentiments shifted.
