As part of Coleman’s expansion strategy, the Company is developing a fibre optic cable factory in Arepo, Ogun State, with an annual production capacity of up to 100,000 km for use by companies in the telecommunication and digital infrastructure industry.
Providing wires and cables for infrastructure projects
Coleman is a market leader in the wires & cables sub-sector in Nigeria, providing critical resources utilised in infrastructure projects. The Company adopts a business to business (B2B) strategy, with customers spanning diverse sectors including power, oil&gas, fast moving consumer goods, real estate and telecoms, offering low, medium, and high voltage cables. We note that Coleman’s products are key inputs intrinsically linked to infrastructure growth and development of the Nigerian economy, owing to the significant importance of cables and wires which accounts for 15% of infrastructure projects in Nigeria. Coleman is the first indigenous wire & cable company to establish a fibre optic manufacturing facility in Nigeria.
COLEMAN TECHNICAL INDUSTRIES LIMITED (“COLEMAN”)
Currently, Coleman has a combined installed production capacity of up to 90,000 metric tons from 2,000 metric tons at inception. The Company has also expanded its product offerings to over 30 products ranging from power, control, aerial, specialty, and electrical submersible pumps to communication cables.
Coleman owns and operates three factories in Arepo and three factories in Sagamu, both in Ogun State, with a total capacity of 60,000 metric tons of copper wires and cables, 13,200 metric tons of aluminium conductors, and 9,900 metric tons of flexible copper wire. In 2023, the Company commissioned its marine and transmission gap cables as well as high-capacity power distribution cables factories and commenced construction of a backward integration factory for the production of copper and aluminium bars in Sagamu, Ogun State.. Furthermore, Coleman is certified by the International Organization for Standardization (ISO) and a fifth factory is currently under construction in Sagamu.
Project Highlight
As part of Coleman’s expansion strategy, the Company is developing a fibre optic cable factory in Arepo, Ogun State, with an annual production capacity
As part of Coleman’s expansion strategy, the Company is developing a fibre optic cable factory in Arepo, Ogun State, with an annual production capacity of up to 100,000 km for use by companies in the telecommunication and digital infrastructure industry.
10
Billion Naira
Transaction Details
With InfraCredit’s guarantee, COLEMAN was able to access NGN10.0 Billion 7-year Bank of Industry (BOI) loan facility.
On July 14, 2023, InfraCredit guaranteed a 7-Year NGN 10 billion Bank of Industry Loan facility to Coleman Technical Industries Limited (“Coleman”). The proceeds of the debt facility was utilised to finance the completion of a fibre optic cable factory in Arepo, Ogun State, completion of the fibre optics cable factory in Arepo, complete the construction of the Sagamu IV high-capacity distribution and power cables as well as commence external civil works.
| Issue Date | 14th July 2023 |
|---|---|
| Co-Obligor | Coleman Technical Industries Limited (“Coleman”) |
| Principal Amount Outstanding (NGN) | 10,000,000,000 |
| Sector | Inputs to Infrastructure |
| Tenor | 7 Years |
| Location of Operation | South –West, Nigeria |
| Assets Financed | Fibre Optic Cable Factory and High-Capacity Distribution and Power Cables |
