A US$ 600m cement factory which has a production capacity of 2.5 million tonnes of cement has been opened in Ethiopia. The factory which belongs to the Dangote Group will help the country hugely grow its economy.
“The country’s economy has been a growth trajectory, mostly driven by agriculture, and large scale construction but the emergence of the cement factory will help increase the economy,” said Ethiopia’s Prime Minister, Hailemariam Desalegn.
During the event to commission the factory, the Prime Minister invited several investors to witness its inauguration as its rising demand will serve as a big opportunity.
The factory is located 90 kilometers North West of the capital, Addis Ababa and it is anticipated to boost the production capacity of local cement factories from the present 12.5 million metric tonnes per year to 15 million metric tons.
Ethiopia has a vision of growing cement production by 5 million tones by next year and this initiative is definitely expected to boost their growth.
Dangote Group runs cement factories in Senegal, Zambia, Cameroon and South Africa. The company plans to enter the Kenyan market later this year and this will add on to their ambition to expand and grow across Africa. They plan to develop a US$ 358m cement factory with a capacity of three million tonnes in Kitui, Kenya.
