Dangote Cement - April 2016
Dangote Group has signed a US$2bn loan with the Industrial Commercial Bank of China Ltd for its two new cement plans in Nigeria. Work has already begun on one factory in Okpella in the south of the country, which is due to start production in mid-2018. The plant, which is expected to cost US$1bn, will have a production capacity of 6Mta. A second works at Itori will boost the company’s capacity in Nigeria to 41Mta.