Africa, Business, invesment, Invesments, news, Uncategorized, World Bank, World Bank Group

Africa News January 13, 2014 at 08:35AM

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VENTURES AFRICA- Africa’s leading cement producer, Dangote cement has revealed that it will complete five cement plants spread across five African countries this year.

The plants, which are at various stages of construction will add about 13.5 million metric tonnes of cement per annum to the existing capacity when completed, Africa’s wealthiest man and Chief Executive of Dangote Group, Aliko Dangote said.

The on-going projects, which highligths continuity of the company’s pan-African expansion drive, includes: the 1.5mmtpa Zambian plant, Tanzania’s 1.5mmtpa plant, South Africa’s 3mmtpa plant; and a 1.5mmtpa capacity plant in the Republic of Congo and Gabon .

Last week, Nigerian High Commissioner to Zambia, Mrs Sifawu Momoh, had confirmed that Dangote Group is set to complete and inaugurate a $400 million cement factory in Zambia by February, this year.

Meanwhile, in Nigeria, Dangote cement is already working on the third and fourth production lines in the 6mmtpa plant in Ibese, Ogun State, to bring the total capacity to 12mmtpa, while another 3mmtpa line is being added to the Obajana cement plant in Kogi State.

An additional 3mmtpa is planned for its Obajana cement plant before the end of 2014, Dangote said. The plant currently has a capacity of 10.25mmtpa and an additional 3mmpa.

The group’s core business focus, which involves providing local value-added products and services that will generate employment and prevent capital flight, will continue encourage other investors to ensure that Nigeria becomes a self-sufficient industrial giant rather than a leader in importation, Dangote opined.

According to him, continuous investments in Nigeria and the rest of Africa was borne out of the fact that the country is a fertile ground for investment.

Last year, a Renaissance Capital research credited Dangote cement as a major force behind Nigeria’s feat in overtaking South Africa as the biggest cement manufacturer in Sub-Saharan Africa, as it marked the year with investments in cement plants across the continent.

Established in 1978, Dangote Group PLC is an African conglomerate based in Nigeria, West Africa, with diversified interests.

The company’s cement, sugar, salt and flour business are listed on the Nigerian Stock Exchange (NSE).

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