A US based investment group has announced it is to construct a 1.5Mta cement plant and 600MW power plant in the Southeastern state of Ebonyi, Nigeria.

It was reported that the Califco Group together with development partners, Cross River International Consulting and in conjunction with Ebonyi state government aims to revitalise cement production in the state as well as create employment.

The investment is said to be around USD1.5bn. The project schedule and completion date remain undisclosed.