Dangote Cement expands into Zimbabwe – to build $400 million plant

Aliko Dangote, has revealed that Dangote Cement will invest in a US$400 million cement plant in Zimbabwe.

The billionaire, also told journalists, that the Dangote Group will be looking to in coal mining and power generation in the southern African country.

“We have already decided to invest into Zimbabwe, that is why we are here. Any country where you see us visiting – it means – yes, we have decided to invest,” Dangote said.

Construction of the cement plant is expected to begin in the first quarter of 2016 and once completed, the plant will produce 1.5 million tonnes of cement a year.

Dangote Cement’s proposed investment in Zimbabwe could be a major economic boost for the southern African country that is currently grappling with a slump in metal prices and a severe drought that has badly affected its agriculture sector. Agriculture and the mining industry are Zimbabwe’s most important sources of revenue.

Dangote Cement, is aggressively expanding across Africa. Earlier this year, the company launched a 2.5 million metric tonnes per annum cement plant in Addis-Ababa, Ethiopia, and commissioned a US$250 million factory in Cameroon.

Source: Reuters