Dangote plans $20 billion investment across sectors

Dangote plans $20 billion investment across sectors

The Dangote Group has said that it was planning to invest over $20 billion and engage over 200,000 more workers in various projects to impact the Nigerian and African economy by 2020.

Group Executive Director, Dangote Group, Mansur Ahmed, listed some ongoing and new projects undertaken by the company to realise that objective.It include a refinery, petrochemical, cement, salt, rice, sugar, tomato processing and gas plants, as well as agricultural projects to promote food security and save foreign exchange. ´The gas project will help industrial and manufacturing, energy, power and electricity supply. All these will take $20 billion of investments in different sectors to impact on several areas of our economic life, particularly employment,´ he said.´By the time we finish all the investments in refineries and petrochemical, fertiliser plants, agriculture, and others, the company should be able to increase its labour force to about 250,000 from the current 15,000, with over $100 million saved from importation of rice, sugar, rice, tomato importation, and $6-$10 million earnings every year from exports of these items,´he added.

No stories found.
Indian Cement Review
www.indiancementreview.com