A Moroccan cement giant company- Ciments de l’Afrique (Cimaf) is set to construct a new US$ 22m cement manufacturing plant in Bouake, Côte d’Ivoire; this is according to a statement by the company.
The process of constructing the new plant is already in full swing and ready to commence, the statement read, adding that it is currently in the process of acquiring the land that will house the mega plant.
The Moroccan group led by business tycoon, Mr. Anas Sefrioui settled on developing its new plant in Bouake since the city is known as a major business centre in the West African country. The plant will be its third production site after already setting up two plants in the capital Abidjan.
The new factory is projected to have a production output of approximately 350,000 tons per year making the group the number one producer of cement (2.3 million tons) in the region.
Africa’s richest businessman, Aliko Dangote, is also setting his footprints with his Dangote cement group, with an investment estimated at close to US$230m and this will allow for competition to take place between the two big companies.
As of 2014, Dangote Cement had a market capitalization of US$ 20bn. In 2012, Forbes Africa named Dangote Cement as one of the top five listed companies in West Africa.
Ciments de l’Afrique is also present in other African countries including; Burkina Faso, Ghana, Guinea Conakry, Gabon, and Cameron. Congo Brazzaville and Mali are also looking to grant an operation license to the Moroccan cement giant and this will see them expand the portfolio in the African continent.