Cameroon’s Cement Corporation, a subsidiary of Atlantic Group controlled by Ivorian businessman Kone Dossongui, has signed an amendment to its investment agreement with the Investment Promotion Agency (API) for its cement plant project in Kribi. The addendum, signed on 19 February in Yaoundé, updates the original 4 August 2021 convention.
According to Georges Wilson, vice president of Atlantic Group, the revision reflects upgraded production technologies, leading to an increase in the project’s initial cost of more than CFA39bn (US$61.1m). The plant, to be built in the Kribi industrial-port zone, will benefit from five- to ten-year tax and customs exemptions under Cameroon’s private investment incentives law.
Construction is expected to begin in 2026 and last 24 months. With an annual capacity of 1Mta and up to 1600 jobs, the project will further diversify Cameroon’s competitive cement market, long dominated by Cimencam and reshaped since 2015 by Dangote Cement Cameroon.
