Nigeria-based diversified conglomerate BUA Group has signed a memorandum of understanding with the Turkish MMM Erba Makina to construct a 2,000-tonne-per-day plaster of Paris (P.O.P or gypsum powder)* production plant in Nigeria.
MMM Erba Makina, a world leader in plaster production equipment, is expected to provide the machinery for the plant, which is scheduled for completion in 2022.
“We intend to bring our wealth of experience in delivering some of the world’s best plaster plants to bring this project to completion on schedule,” MMM Erba Makina Chairman Melih Baran Kilic said.
Upon completion, the proposed BUA P.O.P production plant will become Nigeria’s largest plaster production facility.
Commenting on the deal, billionaire industrialist and BUA Group Founder Abdul Samad Rabiu said the signing marks another milestone in the company’s journey to becoming Africa’s leading manufacturing and infrastructure company.
“We are pleased to sign this agreement with a world leader in plaster manufacturing machinery, MMM Erba Makina, to build our 2,000-tonne-per-day P.O.P. gypsum powder manufacturing plant, which we expect to be completed in 2022,” Rabiu said.
The billionaire, who ranks as Africa’s sixth richest man, has gained much publicity since launching the Abdul Samad Rabiu Africa Initiative (ASRi), an annual $100-million Africa-focused philanthropic vehicle for the BUA Group, in March.
The latest deal will further increase BUA Group’s market share in the real estate economy of countries in Sub-Saharan Africa.
“On completion, this plant will further deepen our involvement in the entire housing infrastructure value chain in Nigeria and the West African region,” Rabiu said.
*Plaster of Paris (P.O.P or gypsum powder) is a building material used as a molding and casting agent for decorative elements. It is also used as a protective coating on walls and ceilings, giving aesthetic finishing touches to the buildings.
