Nigeria: Dangote signs US$2bn Chinese bank loans for two cement plants

Nigeria: Dangote signs US$2bn Chinese bank loans for two cement plants
Published: 13 April 2016

Tagged Under: Nigeria Dangote Cement 

Dangote Group has signed a deal on Tuesday for a US$2bn loan from the Industrial Commercial Bank of China Ltd for two cement plants, according to Reuters.

“The interest rate is okay, quite favourable with me,” Dangote said, without elaborating. “It’s for my two cement companies that we are establishing in Nigeria.”

The deal included China Export & Credit Insurance Corporation.