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Dangote Plans $100 Million Cameroon Cement Plant, ThisDay Says

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Jan. 13 (Bloomberg) -- Dangote Group of Nigeria plans to invest $100 million in a new cement plant in neighboring Cameroon, ThisDay reported.

Dangote and the government of Cameroon have reached an agreement on the planned investment, the Lagos-based newspaper said, citing a company statement. The plant will increase production and lower cement prices in Cameroon, which currently only has one producer, the newspaper said.

Dangote has already said it plans to invest $400 million in a similar plant in Zambia, ThisDay said.

To contact the reporter on this story: Vincent Nwanma in Lagos at vnwanma@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net

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