Dangote Cement to Build 12 New Projects in $1 Billion Deal to Grow Africa’s Economy
By Patience Ikpeme
Dangote Cement Plc has taken a massive step toward making Africa self-sufficient in cement production by signing a new agreement worth over $1 billion with a Chinese firm, Sinoma International Engineering.
The deal, which was signed in Lagos over the weekend, will see the construction of 12 new projects and the expansion of several existing plants across the continent.
This move is part of the company’s big plan, known as “Vision 2030,” which aims to increase its cement production to 80 million tonnes every year. The expansion is also expected to help the wider Dangote Group reach a yearly revenue target of $100 billion within the next few years.
Speaking at the event, the Founder and President of the Dangote Group, Aliko Dangote, explained that these projects are key to the company’s future. He said that the new plants will help Dangote Cement stay on top in the Nigerian market and help the company export more cement to other countries. He noted that the plan is meant to make their work more efficient and increase how much cement they can produce.
The partnership with Sinoma will touch several parts of Nigeria and other African nations. In Nigeria, new work will happen in places like Itori, Apapa, Lekki, Port Harcourt, and Onne, including a new production line in Northern Nigeria. Outside Nigeria, the company is building or expanding plants in Ethiopia, Zambia, Zimbabwe, Tanzania, Sierra Leone, and Cameroon.
The Chairman of the Board of Directors for Dangote Cement, Mr. Emmanuel Ikazoboh, said during the signing that these projects are vital for the company’s growth. He mentioned that once these projects are finished, Dangote Cement will be even stronger and will continue to lead the cement industry across Africa.
Adding to this, the Group Managing Director of Dangote Cement, Mr. Arvind Pathak, said the company wants to make sure there is enough cement for everyone in Africa to build houses and roads. He said that Dangote Cement is working to make Africa produce all the cement it needs, which will create more jobs for young people and boost business activities across the continent.
To make sure these new and old plants have enough power to run, Dangote Cement recently signed a gas deal with the Nigerian National Petroleum Company Limited (NNPC Ltd). This gas agreement ensures the company has a steady supply of energy. It also supports the company’s move toward using Compressed Natural Gas (CNG) for its trucks, which is a cleaner and cheaper fuel than petrol or diesel.
Currently, Dangote Cement operates in many African countries. These new projects will include modern technology that saves energy, reduces the cost of making cement, and helps protect the environment by cutting down on smoke and pollution.
