Nigeria`s Aliko Dangote, who is among the richest men in Africa, and the richest in Nigeria has revealed that the Dangote Group will partner with the Tanzanian government to complete a US$600m cement factory.
The Tanzanian plant has reached 25% completion and is expected to produce up to 3,000,000 metric tons of cement annually. The plant is expected to supply Tanzania’s one million ton cement deficit.
Dangote was speaking in Nigeria during a visit to Dangote’s Kogi-based Obajana cement plant by the Tanzanian president Dr. Jakaya Kikwete who was in Nigeria attending the recently concluded World Economic Forum on Africa.
Tanzania’s domestic demand stands at 4 million tons with an annual growth rate of 10% while the production capacity of the existing plants is 3.5 million tons per annum. The 3 large local firms are Twiga, Tanga and Mbeya Cement
Dangote said that the group plans to invest US$5bn in cement production in over 16 African countries.