Nigeria: Dangote investment drive not only in cement

Nigeria: Dangote investment drive not only in cement
Published: 13 December 2013

Tagged Under: Nigeria Dangote Cement 

Dangote Group, plans to invest about US$16bn in cement, petrochemicals and agriculture over the next four years.

"We are investing US$4.7bn to finish our projects in cement in about 18 countries, including Nigeria," Aliko Dangote told Bloomberg. "We are also spending about US$2.3bn on agriculture, which is sugar and rice." The investment will help the Lagos-based company grow by almost a third in 2014, according to Mr Dangote. "We are very, very optimistic for 2014 - we are expecting average growth of 30 per cent group wide," he added.

Dangote Cement, Africa's biggest producer of the building material, said in April it plans to double its total cement output to 55Mta by 2015, boosted by new production in Cameroon, Zambia and South Africa.
Aliko Dangote also plans to invest in a natural gas power plant to help provide electricity to Africa's most populous nation.