Nigerian Billionaire's Company Set to Build New Facility, Compete With Dangote, others
- BUA Foods Plc has formed a partnership with IMAS, a reputable Turkish producer of equipment for milling flour
- With a combined daily milling capacity of 3200 tonnes, the foreign company plans to build four modern milling facilities
- The new plants are expected to boost production capacity and provide more superior products in the country
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Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.
One of the top producers of food in Nigeria, BUA Foods Plc, has partnered with IMAS, a well-known Turkish manufacturer of flour milling equipment, to construct four cutting-edge wheat and flour milling facilities with a combined daily milling capacity of 3200 tonnes.
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After making its debut on the Nigerian exchange (NGX), BUA Foods has made a strategic plan to expand into new markets, which includes this game-changing move.
It is anticipated that the new factories will increase manufacturing capacity and supply more high-quality products, helping Nigeria handle its food difficulties.
Daily Independent reported that top executives from BUA Foods and IMAS saw the formal signing of the agreement, which reaffirmed BUA Foods' commitment to maintaining growth by increasing production capacity throughout all of its business divisions.
Abdul Samad Rabiu, chairman of BUA Foods Plc, while speaking at the signing ceremony, said:
“This partnership with IMAS is a testament to our dedication to improving food security in Nigeria.
“These new factories will significantly boost our capacity to continue to produce high-quality flour products while helping to create additional job opportunities across the country.”
“This investment is a step towards our target of increasing our share of the Nigerian flour market. The addition of four mills will enable us to produce high quality flour thereby offering us the flexibility to address various potential flour needs.”
Mustafa Ozdemir, Vice President of IMAS, also commenting, said:
“We at IMAS are happy to again contribute to BUA Foods expansion drive aimed at ensuring that more people in Africa have access to affordable and healthy food.”
With this development, the company is expected to intensify its production capacity to compete with the other fast moving consumer goods company across the country.
Abdul Samad Rabiu kicks off N250 million project
Legit.ng earlier reported that the construction of a N250 million sports complex for the University of Jos had commenced as part of the Abdul Samad Rabiu Africa Initiative (ASR Africa).
Besides his business exploits, Abdul Samad Rabiu, Nigeria's second-richest billionaire, is known for his many philanthropic works across Nigeria.
It would be recalled that Legit.ng earlier reported that the billionaire, through his foundation, started the construction of 120 family housing units for the Nigerian Army worth N2 billion.
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Source: Legit.ng
