Dangote Cement Plans 46.3 Million Tons Output by 2015
The company’s output in Nigeria, sub-Saharan Africa’s second-largest economy, will advance to 32 million tons by 2015 from 20 million tons this year, Lagos-based Dangote said in an e-mailed presentation today.
Dangote Cement will produce 1.5 million tons from its plant in Senegal this year, bringing total output in 2012 to 21.5 million tons, it said. The company has also signed a memorandum of understanding for the construction of a cement plant in Calabar, Nigeria’s southeastern seaport, with a capacity of 3 million tons by 2015, it added.
Dangote Cement is the biggest company traded on the Nigerian Stock Exchange with a market value of 1.81 trillion naira ($11.5 billion). The company’s parent, Dangote Industries Ltd., has a 64 percent stake in Sephaku Holdings Ltd. (SEP), a South African mineral exploration and development company that also produces cement. The company said last April that its total annual production capacity should reach 50 million tons in five years.
Dangote Cement shares gained a second day, rising by 60 kobo, or 0.5 percent, to 116.60 naira and traded at 116.50 naira by 2:21 p.m. in Lagos, heading for the highest close since Jan. 31.
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