Egi MJG Float Glass, a joint venture between the Egi Community, Mara Group, JS Group and Ghani Group, last week announced the groundbreaking for their first float glass manufacturing plant in Nigeria.
The production facility in Rivers State aims to produce 500 tons of float glass per day for a variety of applications spanning from architectural solutions to the automotive industry.
The total investment for the project will amount to $110 million during the first phase, and an additional $100 million during the second expansion phase.
"This project is a first step in making Nigeria self-sufficient in terms of glass manufacturing,“ said Prashant Manek , director at Mara Group. “As a result of the strategic location and the locally available raw materials, we are highly confident that we will be able to build a world-class, cost-competitive facility."
Given the growing demand throughout the continent, this plant could represent the first of several facilities built and operated by the joint venture, ultimately laying the foundation for a West African glass manufacturing sector. Nigeria lacks domestic float glass manufacturing and is highly dependent on imports from Europe, South America and China. Simultaneously, domestic demand is increasing as a result of the country's booming housing industry, and currently estimated at 360,000 tons per year.
Egi MJG Float Glass is comprised of the Mara Group, a is a multi-sector conglomerate with operations in 19 African countries, as well as JS Group is an industrial conglomerate with investments throughout Asia, the Middle East and Africa. Also in the joint venture is the Ghani Group, a glass manufacturer with plants in the UAE and Pakistan with a total production capacity of over 300,000 tons.
During the groundbreaking ceremony, Prashant Manek , Director at Mara Group, declared: "This project is a first step in making Nigeria self-sufficient in terms of glass manufacturing. As a result of the strategic location and the locally available raw materials, we are highly confident that we will be able to build a world-class, cost-competitive facility."
The land allocated for the Rivers State glass manufacturing plant belongs to the local Egi Community. The Community is strongly supportive of the project, given the expected benefits to the area, and is also a meaningful shareholder in the plant.
