Us Bank Backs Nigerian Float Plant

The US bank Multilateral Investment Guarantee Agency has backed a $71.9m build of Nigeria's first float glass manufacturing plant. The aim of the plant is to meet the rising infrastructure driven domestic demand in order to diversify the Nigerian economy. Nigeria's infrastructure development has led to demand for float glass, however, most of the supply is through imports and does not meet domestic needs. The plant will have a capacity of 500/tpd and will produce tinted and solar control coated glass. 80% of production will be sold locally and the balance exported.