Afreximbank Provides US$81.9 Million Financing for Veenocks Tile Factory

On 2 November, industry reporting highlighted an US$81.9 million financing facility from Afreximbank to expand Veenocks’ porcelain tile manufacturing plant in Sagamu, Ogun State. The expansion is expected to increase annual production capacity to 9.9 million square metres and create approximately 300 direct jobs. The expansion creates opportunities for machinery suppliers, raw-material providers, industrial logistics companies and construction-material distributors. HPC can support industrial sourcing, supplier research and supply-chain partnership development.