Cement News tagged under: Dangote Cement
Dangote starts work on Niger plant18 October 2018, Published under Cement NewsDangote starts work on the construction of a XOF180bn (US$315.8m) cement plant in Keita, Niger, according to the country’s national TV organisation. The new works will also included a 100MW coal-fired power plant. Dangote Cement Niger was granted approval to carry out research on “coal and related substances” on four permits in the region of Agadez (north) and Tahoua. The new cement facility is scheduled for delivery at the end of 2020 and will have a capacity of 2.5Mta. It is expecte... |
Dangote acquisition trail could strengthen group's African network12 October 2018, Published under Cement NewsDangote Cement's Chairman and CEO, Aliko Dangote, caught our attention this week with his announcement that Dangote Cement will begin preparations for the company's London public listing in 2019 , probably after Nigeria's general elections. Dangote Cement has previously considered an Initial Public Offering (IPO) in London, taking steps in this direction as far back as in 2010 . While the company has been one of the fastest-growing cement producers in Africa, this latest development sign... |
Dangote to push ahead with London IPO10 October 2018, Published under Cement NewsDangote Cement Chairman and CEO, Aliko Dangote, says Bank of America Merrill Lynch and Standard Chartered Bank could be among the banks to organise Dangote Cement’s London public listing in 2019. Speaking at the Financial Times Africa summit, Dangote added the listing would go ahead in 2019 after the Nigerian elections, but he could not provide a date. Edwin Devakumar, group executive director at Dangote Industries Ltd, said in an interview in Lagos earlier this year: “We are working on ... |
Two Nigerian producers to raise capital funding of NGN250bn31 August 2018, Published under Cement NewsNigerian cement producers Dangote Cement Plc and Lafarge Africa Cement Plc have launched new capital raisers which are scheduled to conclude in 4Q18. Dangote Cement is raising NGN150bn (US$413.8m) in debt capital and has already obtained NGN50bn of this new debt capital. According to the company, the net proceeds will be used to finance capital expenditure, working capital and corporate purposes. Meanwhile, Lafarge Africa's shareholders have approved a resolution to raise more than NGN... |
Dangote doubles output at its Tanzanian factory21 August 2018, Published under Cement NewsDangote Cement has doubled its cement production in Dar es Salaam in response to Tanzania's cement shortage, which has resulted in higher cement prices. Routine maintenance at some factories has meant lower production and retail cement prices have risen from TZS12,000 (US$5.25) per 50kg bag to TZS22,000 (US$9.63) in recent weeks, reports The Citizen. Dangote Cement's Country Manager, Mr Jagat Rathee said the company has increased its output from 2500tpd to 5000tpd of cement. "We were s... |
Dangote Cement 1H18 revenues of NGN482.4bn23 July 2018, Published under Cement NewsDangote Cement Group reported 1H18 unaudited revenues of NGN482.4bn (US$1.33bn), up 16.9 per cent and group EBITDA up 20.8 per cent at NGN246bn. Joe Makoju, group CEO, commented on the company's 1H18 results: "Our first-half performance was very strong and driven by an excellent recovery in Nigeria, where our sales volumes increased by nearly 14 per cent and revenues rose by more than 18 per cent. Pan-African operations saw a slight fall in volumes but both revenues and EBITDA increased b... |
Nigeria's cement market shows no let-up23 July 2018, Published under Cement NewsNigeria is pushing its production full-throttle as cement demand begins to race ahead. Dangote Cement is revelling in high 1H18 sales volumes and competing cement companies are building new capacities to increase their market share. "Our first-half performance was very strong and driven by an excellent recovery in Nigeria, where our sales volumes increased by nearly 14 per cent and revenues by more than 18 per cent," said Joe Makoju, Dangote's Group CEO. Dangote Cement's total sales... |
Dangote to list in London in 2019?09 July 2018, Published under Cement NewsDangote Cement is considering carrying out its long-planned listing of shares in London after the Nigerian presidential and parliamentary elections on 16 February 2019 and state government elections in March as it intends to expand through acquisitions, according to a report in Business Day. "We are working on it and we’ll look at it in 2019," Edwin Devakumar, group executive director at Dangote Industries, said. "We have grown to this extent mostly via greenfield investments. To grow muc... |
Dangote forecast to increase market share in sub-Saharan Africa06 July 2018, Published under Cement NewsThe removal of tariffs and non-tariff barriers under the African Continental Free Trade Area (AfCFTA) will help Dangote Cement Plc’s expansion plans in sub-Saharan Africa and increase its consumption to 275Mt across 16 countries by 2030, according to a projection released by the Nigeria Office for Trade Negotiations. The Dangote Group has also forecast a 27.1 per cent market share in sub-Saharan Africa in 2018, with this expected to reach 59.4 per cent by 2030. According to the report, sub... |
Dangote to issue shares as part of its NGN150bn Commercial Paper Programme04 July 2018, Published under Cement NewsDangote Cement Plc has announced the issuance of NGN50bn (US$13.9m) series 1 and 2 notes under its NGN150bn Commercial Paper Programme, announced on 27 June 2018. The series 1 and 2 notes will be listed on Nigeria's FMDQ OTC Securities Exchange on 19 July 2018. Funds raised in the Commercial Paper (CP) Programme will be used for capital expenditure, working capital and general corporate purposes. Joe Makoju, Group CEO, said: "This landmark transaction is the largest-ever Commercial P... |