Nigerian based company Dangote Cement has signed a US$4.34bn contract with a Chinese based construction company, Sinoma International Engineering Company Limited, to construct 11 new cement plants in 10 African countries including Nepal in Asia.
The Nigerian based Dangote cement ,is focusing to multiply its cement production capacity to 100 million tonnes by 2020. This was revealed by the Group’s president and owner, Aliko Dangote in regards to his massive investment of cement plants across Africa.
Presently, Africa greatly needs to boost its infrastructural development by stimulating further demand and forcing down rising cost of the commodity through humanizing its capita consumption of cement. Not long ago the group commissioned its 1.5 million metric tonnes of Cement grinding plant in Douala, Cameroon; in fact the plant was commissioned by the country’s President Paul Biya.
Besides, Philemon Yang the country’s Prime Minister represented the President at the commissioning ceremony and laid the foundation stone for the jetty in Base Elf area, Port Autonome De Douala. According to President Biya, Dangote’s investment is right in line with his Government’s policy of inviting industries to contribute to the growth of the country’s gross domestic product.
Moreover, the country is open to investors from the private sector from Nigeria and other countries in Africa. As described by the Group’s President, the recently commissioned plant in Cameroon is the largest Greenfield project whereby the two countries not only share a boundary but also a long history of brotherly relationship dating from their colonial days adding that Nigeria has a better understanding of Cameroun.
However, the group is now looking at commencing the phase II of the plant to double its current capacity production of 1.5 million metric tonnes to 3 million metric tonnes per year given that Cameroun is the largest economy country in Central Africa and is well endowed with abundant natural resources.
