BUA conglomerate, the diversified industrial conglomerate owned by Nigerian billionaire Abdul Samad Rabiu, has signed an agreement to develop a 22-megawatt gas-powered generating plant.
The plan is intended to protect the corporation from Nigeria’s unreliable public power supply while reducing its reliance on diesel.
Green Power International will deliver the project in conjunction with Green Power International Pvt. Ltd., and MWM Regional Director Rabih Yazbeck attended the signing event.
See here: BUA Foods: Company of Nigeria’s 3rd richest man doubles in profit
Once completed, the project will send electricity directly to BUA’s manufacturing locations, lowering operational costs and tackling one of the country’s most pressing challenges: excessive energy prices caused by diesel fuel.
The electricity initiative is part of BUA Group’s overall objective of increasing operational efficiency and cutting energy-related expenditures across its businesses.
BUA Group, founded in 1988, has grown into one of Nigeria’s largest industrial conglomerates, with operations in cement manufacture, food processing, mining, agriculture, and infrastructure.
The group, based in Lagos, has centered its growth strategy around increasing local manufacturing capacity, lowering import dependence, and promoting job creation in Nigeria.
This mindset has led the company’s long-term investments in cement plants, quarries, construction materials, and food processing facilities, establishing BUA as a significant contributor to Nigeria’s industrial foundation.
For the group, the new power plant comes after a period of increased deal-making.
BUA has struck several partnerships in recent months with the goal of boosting its logistics skills and broadening its food and agriculture presence.
These include setting up a 32-ton-per-hour rice processing facility and collaborating with Turkey’s Viteral Integrated Milling Systems to build a 40-ton-per-hour animal feed mill in Kano State.
To demonstrate the scope of its recent investment activities, the corporation recently revealed plans to purchase a Bombardier Global 8000 business jet.
Beyond power generation, BUA is working on an ambitious long-term project to build Nigeria’s largest integrated sugar complex, BillionairesAfrica reports.
The plant is projected to crush 10,000 tonnes of sugarcane per day, generate 35 megawatts of energy from bagasse, and create 20 million liters of industrial ethanol per year.
The project aims to reduce sugar imports while increasing domestic agricultural and renewable energy output.
