Us Bank Backs Nigerian Float Manufacturing Plant

The US bank Multilateral Investment Guarantee Agency (MIGA) has backed the $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.