BUA Foods Plc, has signed an agreement with IMAS, a prominent Turkish flour milling equipment manufacturer to expand its wheat flour milling capacity to 2.5 million tons per annum (Mtpa).
The agreement will lead to building four state-of-the-art wheat and flour milling factories with a cumulative milling capacity of 3,200 tonnes per day.
BUA Foods in a statement released on the Nigerian Exchange Limited said “this transformative move is part of BUA Foods’ strategic expansion plans into new markets since its debut on the 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.”
It stated that 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.
Speaking at the signing ceremony, chairman, BUA Foods, Abdul Rabiu 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.”
He noted that “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.”
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.”
BUA Foods Plc is a 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. The Company continues to invest in modern technology for efficient food production, innovatively expanding with strategic partners across the value chain.
