Dangote cement signs Chinese contracts to add 25 million tons

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Dangote cementDangote Cement Plc, Africa’s biggest producer, will add 25 million metric tons of capacity across 11 countries after agreeing to contracts with Chinese construction company Sinoma International Engineering Co. Ltd.

The total project cost is expected to be about $4.34 billion, Lagos, Nigeria-based Dangote said in a statement on Wednesday. Cement facilities will be built in Nigeria, Ethiopia, Kenya, Zambia, Senegal, Niger, Mali, Cameroon, Ivory Coast, Ghana and Nepal.

Dangote Cement, controlled by Africa’s richest man, Aliko Dangote, has expanded capacity five-fold in the last four years and plans to about double potential output to 80 million tons. The company is seeking to meet demand by African governments seeking to build infrastructure including new ports, roads and damns.

Source: Bloomberg

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Start: 2019-07-01 End: 2019-07-31