Dangote and Sinoma to set up cement plants
Alhaji Aliko Dangote, Chairman of Dangote Group announced that it has signed a $3.9-billion (N58 billion) contracts with the Chinese engineering giant Sinoma International Construction (SIC) to establish new cement factories in seven African countries, including Nigeria.
Devakumar Edwin, Group Executive Director, Business Development, Dangote Group, said that the new cement factories would be built in Ethiopia, Tanzania, South Africa, Republic of Congo, Gabon, Cameroon and Nigeria. He said, when the new plants are fully operational in the next 30 months, they will have a combined production capacity of over 15 million tonne of cement annually. Edwin added, each of the plants will produce one-and-a-half million tonne of cement annually, except the additional lines in Obajana and Ibese in Nigeria, which will be producing nine million tonne per annum at a full capacity.
According to him, the project would not only boost the production of cement in Africa, but would reduce the price of the product as well as meet the local needs of cement in the region. The project is also expected to provide at least 40,000 additional jobs to truck drivers that would have multiplier effects on the nation's economy and wealth creation. Wu Shoufu, President of SIC, said that the agreement would strengthen business growth in the two countries.