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Dangote Seeks Zimbabwe Investments in Cement, Power, Mining

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Aliko Dangote, Africa’s richest man, is considering investments in Zimbabwe’s cement, power generation and coal-mining industries as part of an expansion in the southern African nation.

Dangote Cement Plc may start building a $400 million, 1.5 million metric tons-a-year cement plant by the first quarter of 2016, if all the necessary approvals are received, the Nigerian billionaire told reporters in Harare, the capital, on Monday. Dangote Industries may invest in Zimbabwean power generation through Black Rhino Group, a $5 billion African infrastructure fund in which U.S. private-equity group Blackstone Group LP is a co-investor.