A Chinese firm, the Chaoyang Heavy Machinery Group, is to establish a cement plant estimated at $60 million or N7.68 billion in Cross River. The plant to be built in partnership with Tancem Nigeria Limited, an indigenous cement plant, is designed to produce 600,000 metric tonnes yearly.

Ubiwe Eriye, the managing director of Tancem, who disclosed this yesterday in Calabar, said the plant would be located at Mfamosing in Akamkpa Local Government Area.

He said that some local financial institutions were also gearing up to finance the cement plant.
According to him, the company will come on stream in two years, while a mini branch will start production in Warri in six months.

The News Agency of Nigeria (NAN) reports that another cement factory, UNICEM, with a capacity to produce 2.5 million tonnes yearly, is to be inaugurated in a few months in Calabar.
National cement demand is now put at more than 12 million metric tonnes yearly.
Cong Jinsong, deputy manager of Chaoyang Heavy Machinery Group, China said that they were interested in Cross River because of its large deposits of limestone.

He said that China has more than 2,000 cement plants, thereby making it the world's largest producer of the commodity.