Dangote Cement Seeking to Double Capacity to 80 Million TonsLiezel Hill
Aliko Dangote, Africa’s richest man, said he plans to double capacity at his cement company to 80 million metric tons a year as the company expands outside its home market of Nigeria.
Dangote Cement Plc, based in Lagos, currently has about 40 million tons of operational capacity in countries including South Africa and Senegal as well as Nigeria. The company recently opened plants in Cameroon, Ethiopia and Zambia and plans to start up a new operation in Tanzania this year.
Dangote is competing with European cement makers including LafargeHolcim Ltd. and HeidelbergCement AG in Africa, where demand is growing from increased government spending on infrastructure such as ports, railways and damns. The company said July 31 that net income gained 28 percent to 121.8 billion naira ($618 million) in line with expansion.
“Our target is to expand installed cement capacity in Africa outside Nigeria to a total of 40 million metric tons per annum, with Nigeria having the same capacity,” the billionaire said at the official opening of the 1.5 million-ton capacity operation in Ndola, Zambia on Tuesday.
The company is building another new plant in Zambia with a similar capacity to the Ndola operation, Sani Dangote, the company’s vice president and Aliko’s brother, said at the same event.
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