Business
Dangote continues Africa-wide expansion – to invest $350 million in Niger
Aliko Dangote – Founder and Chairman of The Dangote Group
Nigerian entrepreneur Aliko Dangote, plans to spend US$350 million to build a new cement plant in Niger as part of a continent-wide drive to boost output, he said following a meeting with the country’s president.
Dangote Cement, Africa’s largest cement producer, is targeting production of 55 million tonnes by 2016 and said last year it was investing US$5 billion to build cement plants on the African continent.
Dangote met with President Issoufou Mahamadou in the capital Niamey late on Wednesday.
“I announced to the head of state my intention to build a cement plant worth US$350 million which will produce 1.5 million tonnes per year,” Dangote told journalists following the meeting.
“The realization of this project will create 6,000 to 7,000 jobs,” he added.
He said the plant would produce its own electricity with an anticipated surplus to be used to bolster Niger’s power output.
Dangote Cement is expanding rapidly with ventures currently underway in the the following African countries: Cameroon, Ethiopia, Nigeria, Senegal, South Africa, Tanzania and Zambia. And last month Kenya’s government announced the company would invest US$400 million to build a plant there.
Niger currently has just one cement plant, built in 1964, with a capacity of 40,000 tonnes. It launched the construction of a new 540,000-tonne plant in 2011 under a joint venture between the state and private investors. Construction, initially scheduled to last two years, has yet to be completed.