BUA Foods Plc has signed a deal with a Turkish milling equipment manufacturer, IMAS, to build four new wheat milling factories with a capacity to mill up to 3200 tons daily.
The company disclosed this in a statement on the NGX signed by its Director of Marketing and Communications, Adewunmi Desalu.
According to the statement, the proposed new wheat mills will increase BUA’s milling capacity to 2.5 million metric tons per annum.
The company noted that the new factories will boost manufacturing capacity and capabilities, enabling the production of more high-quality products that will help address food challenges in Nigeria.
In 2022, the company’s installed milling capacity stood at 500,000 metric tons per annum with a capacity utilisation of 84%. The projected increase to 2.5 million metric tons means that the capacity will rise by nearly 400%.
The statement said that the Chairman of the company, Abdulsamad Rabiu, who signed the agreement for the company, noted that the new factories are part of plans to improve the company’s share of the Nigerian flour market.
“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,” Rabiu stated.
