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Beta Glass is set to consolidate its position as the market leader in the glass bottles making industry with the completion of a $30 million expansion in its Agbara plant in Ogun State, southwest Nigeria. The new investment, which was first announced in December 2018, will take its annual productive capacity to 35,000 tons as well as allow the firm to pioneer the Narrow Neck Press and Blow (NNPB) technology in the West African sub-region.
More details through: https://businessday.ng/companies/article/beta-glass-to-consolidate-market-leadership-with-30m-capacity-expansion/
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The Federal Government has intensified efforts at ensuring that sections of the Ajaokuta Steel Company Limited start production before the end of 2019, Minister of Mines and Steel Development, Olamilekan Adegbite, has said.
Adegbite said this at a meeting with Russian Ambassador, Alexey Shebarshir, in Abuja on Tuesday. Russia is ready to partner the Federal Government to revamp the ailing company, the Russian envoy declared at the meeting… More details through: https://punchng.com/russia-to-help-nigeria-revamp-ajaokuta-steel/ Xirea apparels Limited officially has opened its World Class factory for business in Lagos. Xirea Apparel commissioned two warehouses (Raw materials and Finished Goods) and the garment factory.
A statement from the company said the event also showcased the Launch of West Africa’s first indigenous brand of Personal Protective Equipment(PPE) – Buphalo. Buphalo Active Gear is Xirea’s first customer and showcased its products by hosting Africa’s first ever Safety Fashion runway to the delight of the guests… More details through: https://www.dailytrust.com.ng/xirea-apparels-opens-factory-in-nigeria.html The Manufacturing Purchasing Managers’ Index (PMI) stood at 57.4 index points in the month of June, indicating an expansion in the manufacturing sector for 27 consecutive months.
The Central Bank of Nigeria (CBN), revealed said this in its monthly PMI Survey Report posted on its website yesterday. The report showed that the index grew at a slower rate when compared to the index points recorded in the preceding month… More details through: https://www.thisdaylive.com/index.php/2019/06/26/nigerias-manufacturing-expands-for-27th-consecutive-month/ Rungas Industries, an indigenous Nigerian firm, in collaboration with the United Group of Egypt, has secured an executive partnership with Egypt’s National Organisation for Military Production to produce and assist with the distribution of Liquefied Petroleum Gas and Compressed Natural Gas composite cylinders.
The firm, which is a subsidiary of Rungas Group of Companies, said the Egyptian government had already allocated 28,000 square metres of land for the $30m project in Alexandria, the home for the Egyptian Gas Industrial Park. According to a statement, the facility will produce 200,000 LPG composite cylinders for domestic use (cooking) and 130,000 CNG cylinders for vehicles and automobiles… More details through: https://punchng.com/nigeria-firm-to-manufacture-gas-cylinders-in-egypt/ The Federal Government has expressed concern over the $11million (N4billion) plus spent yearly on the importation of diaper, sanitary pads, wipes and napkins into the country, describing it as unacceptable.
The Ministry of Industry, Trade and Investment, at a validation meeting, yesterday, on the Draft National Industry Policy, in efforts to encourage local production and stem capital flight, said increased productivity will meet local demand and export purposes, job creation, and economic boost through government industrialisation drive… More details through: https://guardian.ng/business-services/fg-decries-n4bn-spent-annually-on-importation-of-diaper-others Nigeria based plastic manufacturing firm, Sarsoli Industries said it will showcase Nigerian made products at the largest global plastic industry fair: K Plast Print Pack Trade Show scheduled to hold in Dusseldorf, Germany. Managing Director of the firm, Jai Changrani said their third exhibition at K has brought in more innovations to the company which they expect would continue…
More details through: https://www.dailytrust.com.ng/firm-to-showcase-made-in-nigeria-products-in-germany.htm The Deputy Managing Director, Chemstar Paint Industry Nigeria Limited, Adebayo Paseda, has said the country’s paint industry is still largely dependent on importation of raw materials. He added that although the company has been able to raise its local sourcing capacity for raw materials to about 80 per cent, the figure only represents very low cost materials while the expensive raw materials are still imported.
In his words: “For the paint industry, if you look at local sourcing by weight content of what we do, you can say we are about 80 per cent, but unfortunately, they are low cost materials while the very expensive ones are imported and even the ones that are locally produced still rely on importation. The industry is still heavily import based.”… More details through: https://guardian.ng/business-services/nigerias-paint-industry-heavily-import-dependent Expert has said leather industry is very critical to national growth and development as it can boost the country’s Gross Development Product (GDP) and increase the country’s foreign exchange earnings.
Read More at: https://leadership.ng/2019/05/12/leather-industry-to-boost-nigerias-economy/ Nigeria imports pottery products worth $600m annually, the Federal Government has said. The Coordinator, Mineral Sector Support for Economic Diversification, Mr Linus Adie, disclosed this on Saturday while conducting World Bank Task Team Leader, Nura Arfaa, round the dilapidated Ladi Kwali Pottery Centre, Suleja, Niger State.
Adie said that despite the great path that Nigeria had established in the pottery industry and the abundance of ceramic raw materials, the country imported more than 80 per cent of its pottery needs… More details through: https://punchng.com/nigeria-imports-600m-pottery-products-annually-fg/ |
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