Bauchi State Government in partnership with Resident Cement said they have commenced the construction of 10 million metric tons of cement in Gwana, Alkaleri local government area of the state.
Speaking at the official flag-off on Tuesday, Bala Mohammed, the State Governor, said that the state owns 10 percent stakes in the factory.
He said that the investment was worth $1.5 billion. He said, “Today is the climax of what we set out to do from 2019 as a movement under the PDP. We are here to open up new frontiers, to bring up some leadership engineering, to do everything that will make people actualise their aspirations, and most importantly our aspirations.
“When I came on board, I inherited a feasibility study with Americans, with a MoU signed by my predecessor for the development of this seamless, but nothing happened, the timeline for the execution laps. I contacted Dangote Group personally to do this, and I sent a message to my brother Alh. Rabiu to come and do it, they never show interest.
“Then you (Resident Cement) came from nowhere and said you are ready to deploy $1.5 billion to do this project, and you have already secured everything. The day you told me this, I didn’t sleep. Wealth and prosperity come from God. Today, by the power conferred on me, you are a citizen of Bauchi.
“We are not going to impute our own personal interest, even before you do that, you made a selfless offer to us that Bauchi state is going to own 10 percent of this project. All the business community for your information, he has set aside 10% of this equity for you to take.
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“And as a good gesture, he reduced the price per share by half so that he can bring acquisition to a level of affordability. Nobody will do this for you except your son, somebody who loves you. And as a government, we are taking this share on your behalf to warehouse it, so that anytime you need, you will come and take it.”
Meanwhile, the Group Chairman of Resident Cement Factory Ltd, Dr. Abbas Waziri Junaid, said that they have deployed all manners of geological investigations where it was proved that the deposit in Gwana is sustainable and enough to establish a cement plant.
“Why we are here today is to prove what geophysics has discovered and found a huge deposit of limestone, and for us to be able to prove that is sustainable enough for the quantity of 10 million metric tons capacity for the next one hundred years,” Junaid said.
Junaid disclosed that the proposed project would attract thousands of people, and called on the people to invest in the provision of infrastructure that would accommodate people, revealing further that the company would at the start bring 1000 trucks with the employment of 3, OOO drivers.
