Dangote to invest $250m in Ethiopian cement industry

Dangote to invest $250m in Ethiopian cement industry
Published: 10 September 2008

President of Dangote Group, Alhaji Aliko Dangote, has announced plans to invest over $250m in the cement industry in Ethiopia, according to media reports in Addis Ababa, Ethiopia, on Tuesday.

According to local media reports, Dangote under his company, Dangote Industries Ltd., had taken investment licence during the past months from the Ethiopian Investment Agency.

Accordingly, his company will soon start construction work in the Oromia regional state of Ethiopia, which is known for its many investment opportunities.

According to a report by a local newspaper; Addis Admass, the representative of Dangote Industries Ltd in Ethiopia, Teshome Lemma, had said that the proposed factory would have the capacity to produce 2.5Mt of cement annually.