Cement News tagged under: Dangote Cement

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Dangote: 1Q2016 profits down 22% as volumes rise 70%

26 April 2016, Published under Cement News

Dangote Cement has released its results for the year to March 31 2016. During this period volume sales grew 69.6 per cent to 6.4Mt, while profits slipped from NGN70bn (US$352m) to NGN55bn (US$276m). Price cuts in Dangote’s Nigerian home market meant that even as volumes climbed 45 per cent to 4.5Mt revenues increased more slowly, rising by 5.7 per cent to NGN107bn (US$538m). The firm estimates that its market share in the period was 66 per cent. Volume growth in other west and central ...

Dangote: Nigeria’s currency woes will not alter expansion plans

22 April 2016, Published under Cement News

Dangote Cement’s annual general meeting, held in Lagos, has seen Aliko Dangote set out his plans to grow the business despite worsening economic conditions, particularly in the company’s Nigerian base. According to reports in This Day, Mr Dangote claimed that foreign exchange volatility – a reference to the Nigerian government’s resistance to calls to devalue the naira – would have no significant impact on the company and its expansionary strategy. Addressing the AGM, Mr Dangote said: ...

Cement exports on the rise

15 April 2016, Published under Cement News

As global cement capacity continues to rise against a limited demand increase, there is a swell of cement producers chasing ever-smaller export markets across the globe. News this week that Saudi Arabia has lifted its ban on exports will increase pressure on prices in the Middle East region. The Saudi Arabian export ban had been in place since 2012 when it was renewed from an earlier 2008 period of export control. While lifting of the ban provides a good opportunity for Saudi producers to ...

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

13 April 2016, Published under Cement News

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.

Nigeria: Work commences on Dangote’s Okpella plant

11 April 2016, Published under Cement News

A groundbreaking ceremony for the construction of a new cement plant has been held as part of celebrations to mark Aliko Dangote’s 59 th birthday. The News Agency of Nigeria reports that the new plant, in Okpella in southern Nigeria, is projected to cost US$1bn and will have a capacity of 6Mta. In its 2015 annual report Dangote Cement said that the new plant would be half this size, with a still-considerable capacity of 3Mta. The increased capacity plans at Opkella reflect Dangote’s c...

Ethiopia: Dangote keen on further expansion

07 April 2016, Published under Cement News

Speaking to Ethiopian news portal, 2Merkato, Aliko Dangote, announced the Nigeria-based cement group would expand its investment in Ethiopia. Aliko Dangote, the Nigerian billionaire and chairman of Dangote Industries established a US$600m plant in Ethiopia in June 2015, but plans are on the table to expand the 2.5Mta factory. Commenting on the development, Mesfin Abera, the company’s sales and marketing head, said Dangote Industries has decided to expand the existing plant. The 2.5Mta exp...

Dangote Cement full-year boosted by new African plants

02 March 2016, Published under Cement News

Dangote Cement posted a 25.6 per cent rise in 2015 revenues to NGN491.7bn (US$2.47bn) as new plants performed strongly across Africa, the company reported yesterday. New production facilities opened by the group in Senegal, Cameroon, Ethiopia and Zambia made their first contributions to the business in 2015 and as a result, volumes rose by 35 per cent to 18.9Mt. “New factories performed very successfully across Africa, gaining significant market share against long-established incumbents,” ...

Gambia minister refutes reports on Dangote licence

18 February 2016, Published under Cement News

Gambia's Information Minister, Sheriff Bojang, has refuted claims that Dangote Cement was denied a licence to establish a local cement plant, explaining that such an investment was never on the cards given the west African country's lack of raw materials. In December 2015 an African news agency reported that Dangote had secured land and started implementing equipment for a new cement plant project in Gambia, but that the said licence was subsequently blocked to protect domestic cement impo...

Dangote Cement to target 76.5Mta capacity in Africa by 2020, CEO tells Cemtech 25th anniversary conference

09 February 2016, Published under Cement News

Cemtech’s 25th anniversary celebrations have commenced as the international conference and exhibition series opens its doors in Dubai, UAE, for its annual Cemtech Middle East & Africa meeting. In his welcome address to delegates conference director, Thomas Armstrong, welcomed Guest of Honour, His Excellency Sheikh Yasir Al Qassemi, General Manager of Union Cement Company and Chairman of the UAE Cement Producers’ Association, alongside senior industry figures including Ahmad Al Rousan, Gener...

Ghana: Ministry on cement-trade-war alert

29 January 2016, Published under Cement News

Dr Ekwow Spio-Garbrah, Ghana's Minister of Trade and Industries, says his Ministry is undertaking a thorough evaluation of various interests in the current trade-war between local cement manufacturers and importers. Local cement makers are claiming cement imports from Nigeria and China are flooding the market, thus making their businesses uncompetitive. Dr Spio-Garbrah said the exercise, with references to price build-ups in other countries, should enable the ministry pronounce appropriatel...