Ashaka Cement signs N11bn agreement for 16MW coal power

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Ashaka Cement Plc, AshakaCem, has signed an N11 billion contract with a Chinese firm, RUNH Power Corporation Limited, for the construction of a 16-megawatt lignite-fired coal power plant in its factory in Gombe State.

Speaking during the signing ceremony in Abuja, Chairman, Board of Directors, AshakaCem, Mr. Suleiman Yahyah, said the power plant, which is the first of its kind in the North East region of the country and second in Nigeria, would be completed in 2018.

He said the company would be financing the project from its N15 billion reserves and is a reflection of its commitment to the growth and development of the Nigerian economy.

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