Dangote Cement Plc on Wednesday signed a $4.34 billion worth of contracts with China’s Sinoma International Engineering to build cement plants across Africa.

The move would see the company expanding its frontiers to Asia by constructing a three million metric tonnes per annum (mmtpa) Cement Plant in Nepal and other 10 African countries. The new investments would cost $4.34 billion

The President of Dangote Group, Alhaji Aliko Dangote, who disclosed this at the signing ceremony of the new plants to be constructed in partnership with Sinoma, a construction firm renowned for construction of ultra-modern cement plants worldwide, assured Nigerians that the country would no longer be used as a dumping ground as the company now has the capacity to export 10 million metric tons of cement outside the country.

Dangote is currently in 15 African countries, including Kenya, Niger and Mali, which are new projects.

The company’s current total capacity stands at 48mmtpa, out of which Nigeria alone has the largest chunk of 29.3mmtpa.
The company will also today inaugurate its new plant in Cameroun with a total capacity of 1.5mmtpa

Addressing journalists yesterday after the signing ceremony, Dangote said: “We are not only building cement plants in Africa, we have gone far away to Nepal to build a three million metric tonnes cement plant capacity and by the time all these our new projects are completed in the next two years, Dangote Cement will have more than 70 million capacity, but we are not going to stop there, hopefully, by 2020, our targets is getting to somewhere around 100 million tons capacity. I can assure you categorically that Africa will not lack cement now and even in the future…Africa will be self -sufficient rather than being a dumping ground for other manufacturers of cement.”

The new plants for which agreements were signed were on the construction of the following plants: three mmtpa in Nepal, 2.5mmtpa in Ethiopia, three mmtpa in both Kenya 1 and 2; 1.5mmtpa in Zambia; 1.5mmtpa in Senegal, 1.5mmtpa in Niger, 1.5mmtpa in Mali, Cameroun, Cote D’Ivoire and Ghana also have plants of 1.5mmtpa capacity respectively.

Dangote Cement recently inaugurated its 1.5 million metric tonnes per annum (mmtpa) capacity cement plant valued at $400 million with a 30 megawatts coal plant to power the factory.

The project was inaugurated by Zambia President, Edgar Chagwa Lungu, at Masasiti district, Ndola, Zambia.
The event was graced by Vice-President Yemi Osinbajo, Edo State Governor, Adams Oshiomhole and his wife; Tony Elumelu, Chairman UBA Plc; and Chief Kola Jamodu, Chairman Nestle Nigeria Plc; Niyi Adebayo, former Governor Ekiti State, among other personalities from Nigeria and Zambia. Speaking at the events, Osinbajo said the projects was very significant to bilateral relationship that has existed between Nigeria and Zambia.

He lauded the government of Zambia and the people for having approved the projects and nurtured it to completion.

President Lungu also said Zambia has continued enjoying very cordial bilateral relationships with Nigeria over the years, assuring them that his government will continue to encourage private sector initiatives.

Source: http://monitor9ja.com/2015/08/dangote-chinas-sinoma-sign-4-34bn-deal/

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