Nepal To Approve Dangote’s $800m Cement Factory Proposal

September 4, 2013 02:03 pm

VENTURES AFRICA – The Investment Board of Nepal (IBN) is on the verge of approving the $800 million investment proposal from Dangote Group to establish a cement factory in Nepal.

According to reports, the investment authority has concluded all preliminary work including a proper scrutiny of the proposal which led to the conclusion that the group is a serious investor and would be allowed to embark on its expansion programme.

“The next board meeting of the IBN will give the formal approval to the group which will pave the way for the company to initiate the project implementation,” said Radhesh Pant, chief executive officer (CEO) of the IBN.

He added that the Nigerian cement producer had expressed interest in setting up a plant in Surkhet district in western Nepal, and though several international investors have approached the board with investment interests, Dangote is the first to have made a concrete push by formally tabling a proposal.

If the board successfully grants the cement manufacturer the go ahead, it will be the first proposal to be approved by the IBN since its establishment over 2 years ago.

Dangote Cement – Africa’s largest cement manufacturer – is investing more than $4 billion to expand its production and import capacity to around 50 million tonnes a year by the end of 2015.

It is targeting a radical expansion plan across Africa which will include factories in Senegal, South Africa, Cameroon, Gabon, Benin, Ethiopia, Tanzania, Zambia and the Republic of Congo, while import and bagging facilities are planned for countries including Ghana, Sierra Leone, Liberia, Cote d’Ivoire and Togo.


http://www.ventures-africa.com/2013/09/nepal-approve-dangotes-800m-cement-factory-proposal/

This makes Dangote Group black Africa's first genuine multinational.

Big statement for African entrepreneurship that will reverberate across the business world.

Congrats Alhaji.

The way Dangote is going, he would end up controlling 1/2 of the world's cement factories which would invariable push him into number one spot in the world rich list.

Come to think of it, where else does Carlos Slim have investment apart from Mexico and yet he is the richest man in the world. How did he manage that!!!

With all the money in the bank ,why doesn't he build a. Proper school for nigerians??

KnowAll: The way Dangote is going, he would end up controlling 1/2 of the world's cement factories which would invariable push him into number one spot in the world rich list.

Come to think of it, where else does Carlos Slim have investment apart from Mexico and yet he is the richest man in the world. How did he manage that!!!

he has investment is the USA as well as some south american countries but there is some rumour that he has ties to under ground black market.

tim107: With all the money in the bank ,why doesn't he build a. Proper school for nigerians??

Do you realize we have thousands of schools of all types plus 135 universities in Nigeria? You sound like one of these western media brainwashed foreigners who think we have no schools in Africa and need Oprah and Paul McCartney to set up one.

Make dem approve am sharp sharp!

Can't wait to become the Nepal manager of dangote group.

Omo, this dangote guy no de play o

tim107: With all the money in the bank ,why doesn't he build a. Proper school for nigerians??

what are you saying

tim107: With all the money in the bank ,why doesn't he build a. Proper school for nigerians??

Like seriously! Are you for real??
Who told you we don't have proper schools in Nigeria??