Africa’s richest man, Aliko Dangote, continues to expand his cement empire.
The Nigerian billionaire plans to spend up to $350 million to build a new cement plant in the Republic of Niger which will boost Dangote Cement ’s annual output by 1.5 million tonnes.
http://www.forbes.com/sites/mfonobongnsehe/
According to a Reuters news report, Dangote made the announcement to journalists on Wednesday after a meeting with Niger’s President Issoufou Mahamadou in the capital, Niamey. Dangote said the new cement plant will produce its own electricity and any surplus will be channeled to Niamey’s power grid. The new venture is expected to create 6,000 to 7,000 jobs.
At the moment, Niger has only one cement plant, built in 1964, which produces a mere 40,000 tonnes annually. The country relies heavily on cement imports from Nigeria.
Dangote Cement, founded by Aliko Dangote, is the largest cement producer on the continent and its ambitious founder is aggressively pursuing growth across the continent. In September, Dangote announced that he will invest $400 million to build a cement plant in Kenya. The company aims to achieve an annual production of 55 million tonnes by 2016 and is investing $5 billion to build cement plants across the continent. Dangote is the richest man in Africa. He sports a net worth of $20.4 billion (using stock prices from Thursday Oct 17), up from$16.1 billion when FORBES published our annual World’s Billionaires list in March 2013.
The Nigerian billionaire plans to spend up to $350 million to build a new cement plant in the Republic of Niger which will boost Dangote Cement ’s annual output by 1.5 million tonnes.
http://www.forbes.com/sites/mfonobongnsehe/
According to a Reuters news report, Dangote made the announcement to journalists on Wednesday after a meeting with Niger’s President Issoufou Mahamadou in the capital, Niamey. Dangote said the new cement plant will produce its own electricity and any surplus will be channeled to Niamey’s power grid. The new venture is expected to create 6,000 to 7,000 jobs.
At the moment, Niger has only one cement plant, built in 1964, which produces a mere 40,000 tonnes annually. The country relies heavily on cement imports from Nigeria.
Dangote Cement, founded by Aliko Dangote, is the largest cement producer on the continent and its ambitious founder is aggressively pursuing growth across the continent. In September, Dangote announced that he will invest $400 million to build a cement plant in Kenya. The company aims to achieve an annual production of 55 million tonnes by 2016 and is investing $5 billion to build cement plants across the continent. Dangote is the richest man in Africa. He sports a net worth of $20.4 billion (using stock prices from Thursday Oct 17), up from$16.1 billion when FORBES published our annual World’s Billionaires list in March 2013.
