Cement News tagged under: Dangote Cement

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Nepal: planned entry of foreign cement giants

21 June 2016, Published under Cement News

The proposed entry of foreign cement manufacturers into the Nepalese market has set off an expansion drive amongst domestic producers. Dangote Cement of Nigeria, Reliance Cement of India and Hongshi and Huaxin of China have all been given necessary approvals to begin operations in Nepal. The combined FDI for these companies amounts to US$1.45bn and the total proposed output stands at 22,000tpd. This increase in capacity by foreign companies has created unrest among domestic manufacturers....

Nigeria: Dangote appoints non-executive director

15 June 2016, Published under Cement News

Dangote Cement PLC, Africa’s largest cement producer, announces the appointment of Dorothy Udeme Ufot, SAN, as an independent non-executive director. Mrs Ufot has more than 26 years’ experience in commercial litigation at trial and appellate levels, having been admitted to the Nigerian Bar in 1989 and then admitted to the Inner Bar as a Senior Advocate of Nigeria (SAN) in April 2009. She also qualified as a Chartered Arbitrator at the Chartered Institute of Arbitrators, London, in 2003. ...

Nigeria: producers hit by falling prices now face naira devaluation

09 June 2016, Published under Cement News

The devaluation of the naira – agreed in principle by the Central Bank of Nigeria in May – will hit Nigerian producers’ revenues, Bernstein warns. The decision to revalue marks a reversal of course by the government, which had for some time faced calls to allow the currency to depreciate. Bernstein’s analysis focusses mainly on the implications for LafargeHolcim as the only major with a significant presence in Nigeria. It concludes that the company – already facing pressure from a 20 per ...

Nigeria: Dangote begins construction of Itori-Ibese road

06 June 2016, Published under Cement News

Dangote has begun construction of a network of concrete roads in Nigeria, beginning with a 24km stretch linking Itori and Ibese in Ogun state, Leadership reports. Speaking at the inauguration of the first road, Aliko Dangote said that concrete roads offered a means to address the infrastructural challenges faced by African nations. Dangote said: “We have also recently been finally awarded the contract to reconstruct the 42km Obajana-Kabba Road in Kogi State, in concrete. The estimated ...

Ghana: new Dangote plant

02 June 2016, Published under Cement News

Dangote Cement have announced plans to establish another cement plant in Takoradi, Ghana.  The new grinding plant will have a capacity of 1.5Mta. The company has acquired 41 acres (17ha) of land for the project.

Nigeria: Dangote majority contributor to solid mineral revenues

26 May 2016, Published under Cement News

The Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that Dangote paid NGN15.9bn (US$80m) in taxes on solid minerals in 2013, more than the rest of the industry combined, Vanguard reports. The NEITI report showed that in 2013 the government of Nigeria received revenues of NGN33.86bn (US$170m) in taxes on solid minerals, to which Dangote paid 53 per cent. In all, five cement companies – Dangote, CCNN, Ashaka, Unicem and WAPCO (the last three all owned by LafargeHo...

Ghana: Dangote appeals for ban on Chinese imports

25 May 2016, Published under Cement News

Dangote has called on the government of Ghana to ban imports of Chinese cement, warning that the measure is necessary to save local producers from collapse, Ghanaweb reports. In addition to the economic impact of such imports, Dangote also claimed that Chinese cement was not subject to proper quality checks and as such could put consumers at risk. Joseph Abo, sales and marketing manager of Dangote Cement, said the use of this cement meant Ghana was “building our death traps”. Tor Nygar...

Zimbabwe: Dangote investment

16 May 2016, Published under Cement News

Nigerian billionaire Aliko Dangote has said he will not rescind on the decision to invest in Zimbabwe, despite negative reports concerning the country’s economy. Mr Dangote said in an interview that he currently has a team in Zimbabwe finalising logistics and making preparations to begin operations. His conglomerate intends to set up a cement manufacturing plant capable of producing 1.5Mt per year, whilst also investing in power generation and coal mining. Mr Dangote has already secured th...

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: ...