LAGOS Feb 8 Flour mills of Nigeria
plans to borrow between $400 million to $500 million to
construct a new cement plant which will double its existing 2.5
million metric tonnes capacity, its chief finance officer said
Jacques Vauthier told Reuters on phone the conglomerate had
appointed financial advisers and banks to raise a term loan from
the local market for the construction of the plant. He said the
details of the loan were still being finalised.
The new cement plant will be completed by the first quarter
of 2016, Vauthier said.
(Reporting by Chijioke Ohuocha; editing by James Jukwey)