Dangote Cement enjoys rapid expansion – to double output to 55 million tons by 2015

Aliko Dangote. PHOTO/File

Dangote Cement Plc, Africa’s biggest producer of the building material, said it plans to more than double annual total output to 55 million metric tons by 2015, more than the 51 million forecast last year.

The target, up from current output of 20 million tons, is based on “visible projects in Africa.

The company, founded and owned by billionaire Chairman Aliko Dangote, plans to start output in Cameroon, Zambia and South Africa in 2014, while it expects to produce in Tanzania, Ethiopia and Democratic Republic of Congo in 2015, Edwin said.

Dangote Cement expects steady progress on Africa from this year and “an increase in volumes from Nigeria with sales nearly up 16 percent in the first quarter of 2013, more than the market’s growth rate.”

More: Dangote Cement projects a profit of $910 million in 2012

Dangote Cement’s net income for the year through December 2012, advanced to 149.6 billion naira (US$941.8 million) from 120.9 billion naira in 2011 (US$761 million), the company revealed last week. Revenue rose 24 percent to 298.5 billion naira (US$1.89 billion).

Dangote Cement expects exports to West Africa to boost revenue in 2013 and 2014 as its export terminals in Lagos and Onne in Nigeria’s Rivers State become operational in 2014.

The company’s shares were unchanged at 160 naira (US$1.01) at the close in Lagos. The stock has advanced 25 percent this year, compared with an 18.6 percent rise in the Nigerian Stock Exchange All-Share Index.