- Advertisement -spot_img
28.2 C
Lagos
HomeCompany NewsDangote plans to boost cement capacity by 17% with new plant in...

Dangote plans to boost cement capacity by 17% with new plant in Nigeria

- Advertisement -spot_img

The wealthiest black man, Aliko Dangote has agreed with a Chinese firm to construct a six million-ton cement plant to expand output and exports in his home market of Nigeria.

The billionaire and China Sinoma International Engineering will build the plant in southwest Nigeria within 27 months, according to a statement by Dangote Industries Ltd. On completion, the company’s fourth factory in the country will increase local output capacity to 41.25 million tons from 35.25 million tons.

READ ALSO: President Buhari seeks 7-day to resolve issues around new naira scarcity

Africa’s biggest producer of cement is investing in additional capacity to meet strong demand in Nigeria and across Africa, where inadequate infrastructure has widened opportunities.

An expansion in Nigeria will enable the company to ramp up exports and boost dollar receipts, required to ease a national shortage of foreign currency.

The Itori plant is planned to produce clinker, which Dangote exports to countries including Cameroon and Senegal, the company said.

Join Our Mailing List!

* indicates required
- Advertisement -spot_img
- Advertisement -spot_img
Must Read
Related News
- Advertisement -spot_img