Gypsum industry news

Nigeria: Nigeria is to benefit from a US$500m investment in a new gypsum block plant, as an alternative to the conventional cement block. It is a bid by private developers that is projected to slash the total cost of housing by 50%, according to Kingsly Uka Okoronkwo, group managing director of Ojim Royal Investment and Property Limited, a real estate developer.

Okoronkwo said that Nigeria is blessed with diverse minerals, including gypsum, which at the moment is completely untapped. When utilised, it will help tackle Nigeria's housing deficit. "If I have to quote the words of the minister of mines and steel, Nigeria has a deposit of 12Mt of gypsum spread across 17 States of the Federation," said Okoronkwo. "We hope to utilise gypsum in crashing the price of house in Nigeria and create employment for youths." He added that gypsum reduces the cost of housing by 50% because it 'takes away' painting and plastering.

The gypsum block plant is expected to take 18 months to install, although according to Okoronkwo, there have been delays due to 'bureaucratic bottlenecks, which hindered the start of work in November 2014.'

"Our partners are very eager to start off because the finance has been secured and the interest is already reading," said Okoronkwo. "We're looking at US$500m for a start. In the first year of operations, we plan to build 10,000 houses."