Africa, Business, invesment, Invesments, news, Uncategorized, World Bank, World Bank Group

Africa News December 03, 2013 at 10:06AM

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VENTURES AFRICA – West African Ceramics Ltd. (WACL), a leading local manufacturer of standard ceramic tiles, has announced plans to invest over $50 million in the establishment of a state-of-art ceramic tile factory in Ogun State, western Nigeria.

The plan to establish a ceramic tile plant in the nearest future was necessitated by the rising demand for European standard quality tiles in Nigeria and across the sub-Saharan West African region, said WACL’s Group Executive Director, Alhaji Lawal Idirisu.

According to Idirisu, “The market demand for quality tiles as obtainable in European countries such as Spain and Italy is rising on an alarming rate owing to the trends in the home, property, and real estate industry.”

“Although the company’s factory in Ajaokuta, Kogi State is fully operational to capacity, meeting both domestic demands and export to the West African market; the company has been proactive based on consumer and industry insight, and research to establish another production plant,” he added.

Besides, Idirisu noted that availability of raw materials in large quantity in Ogun State makes it a potential commercial hub fir industries, and with an enabling climate and good governance to improve its distribution system it will spur economic growth.

The state government commended the initiative and promised to provide constitutional support to ensure the investment brings economic benefits to people of the state.

According to the state’s Commissioner of Commerce and Industry, Otunba Bimbo Ashiru, “This [the investment] implies job creation for our people in good numbers and generally impact the state positively.”

Established in Nigeria under the name Royal Ceramics in 1995, West African Ceramics Ltd is the premium producer of porcelain, vitrified and glazed tiles in West Africa.

With over 1,000 Nigerians directly employment and over 28,000 involved in its raw material supply, product marketing and sub-dealers, WACL’s Ajaokuta factory is the third largest factory in Africa and that it produces Royal ceramics floor tiles, Royal Wall Tiles, VIT Porcelain Vitrified Tiles and Royal Roofing Tiles to international standard.

 

 

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