Recently, Sinoma International Engineering Co., Ltd. and its wholly-owned subsidiary NJZC INTERNATIONAL CONSTRUCTION NIG LTD and Itori Cement Plc signed the "General Contract for Dangote Two 6,000-ton Clinker Cement Production Lines in Itori, Ogun State, Nigeria".

Nigeria EPC project

The total contract amount is US$585,089,934, of which, the design and equipment supply contract executed by Sinoma International is worth US$530,623,491, and the construction, installation, and commissioning contract executed by the Nigerian subsidiary is US$54,466,443.

Itori Cement Plc was established in April 2016 with a registered capital of 1,000,000 Nigerian Naira, of which Dangote Cement Plc holds 99% of the shares. Sinoma International has established a long-term cooperative relationship with Dangote Cement Plc.

The advance payment is 12% of the contract amount, and the owner will pay after receiving the advance payment guarantee (7% of the contract amount) and the performance bond (5% of the contract amount) issued by the company. The progress payment is 83% of the contract amount, which is paid according to the value of each ship and the amount of work completed on site every month. The quality assurance deposit is 5% of the contract value, paid after the owner issues the acceptance certificate. The settlement method of the contract is payment by letter of credit. Editor/He Yuting