BUA Foods Plc (NGX: BUAFOODS) has signed an agreement to build four state-of-the-art wheat and flour milling factories with a cumulative milling capacity of 32000 tonnes per day.
Also read; Dangote refinery agree on Sept petrol rollout; committee
On of Nigeria’ s leading food manufacturing companies, BUA Foods signed the agreement with IMAS, a prominent Turkish flour milling equipment manufacturer.
The agreement was signed during a formal ceremony attended by Top Executives from BUA Foods and IMAS, underscoring BUA Foods’ commitment to sustaining growth, by expanding production
capacities across all its business divisions.
In a regulatory filing on Tuesday, BUA Foods stated that the expansion is part of its strategic plans into new markets since its debut on the Nigerian Exchange (NGX).
The new factories are expected to provide enhanced manufacturing capacity and capabilities to deliver more high-quality products that will contribute towards addressing food challenges in Nigeria.
Speaking at the signing ceremony, Abdul Samad Rabiu, Chairman, BUA Foods Plc, 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.”
Also commenting, the representative from IMAS 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.,”
About BUA Foods
BUA Foods Plc is a leading food business with well-diversified and scalable operations producing sugar, flour, pasta, rice and edible oils.
The Company owns strategically located plants across Nigeria and a cordial alliance with local stakeholders in host communities.
Additionally, BUA Foods is a resilient business built on a strong brand proposition and an operator with a well-known reputation for delivering high-quality products.
BUA Foods continues to invest in modern technology for efficient food production, innovatively expanding with strategic partners across the value chain.
Headquartered and listed in Nigeria, BUA Foods is one of the most capitalised companies on the NGX Exchange and a leading consumer goods firm by market value.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
