Cement News tagged under: Dangote Cement

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Dangote reverses price cut

18 December 2014, Published under Cement News

Just over a month after initiating a dramatic price cut, Dangote Cement has raised prices again in Nigeria. The price of 42.5 grade cement has reportedly increased from NGN1150 (US$6.10) to NGN1567 (US$8.37, excluding VAT). This translates to a 35 per cent rise and taking the price higher than the level before the November cut. Analysts at Morgan Stanley comment that the original decision to drop prices appears to have been prompted by a build-up of stocks that Dangote was unable to se...

Dangote expects first cement from new Cameroon works in January

17 December 2014, Published under Cement News

The first bagged output from Dangote Cement’s Douala plant in Cameroon is expected to reach the market in the first week of January 2015, according project director Baba Abdullahi. “We will start production next week and our cement will be available in all the towns of the country. We are working to that effect,” he said. “Various tests start on 20 December 2014 and 10 days later, we will start actual production.” During a visit to the site on 8 November 2014, Aliko Dangote explained t...

Tanzania likely to start exporting cement soon

26 November 2014, Published under Cement News

Tanzania expects to double its cement production in the next few years as new factories come on-stream to satisfy growing demand from the construction sector, a senior government official said on Tuesday. Tanzania's cement output rose 18.9 per cent last year to slightly above 3Mt on the back of higher demand. Janet Mbene, deputy trade minister,  said the rise in output would see Tanzania  produce a surplus to be exported. Annual cement production in east Africa's second-largest economy wil...

Dangote Cement to reduce capex next year

07 November 2014, Published under Cement News

Dangote Cement expects to slow its capital spending next year to around US$700m, as it completes most of its African expansion projects, its chief executive told Reuters on Wednesday. Edwin Devakumar said Africa's biggest cement operation budgeted to spend around US$1.4bn this year, as it ramps up its cement works from Senegal to Zambia. "This year we may end up with a capex of close to US$1.4bn though we expect it to come down next year to around US$700m," Mr Devakumar told the news agenc...

Dangote applies to build Tanzania coal-fired plant

06 November 2014, Published under Cement News

Dangote Cement has applied for a licence to build a 75MW coal-fired plant in Tanzania that would power its 3Mta cement plant under construction.   "Dangote Industries ... applied for a 75 MW electricity generation licence to build, own and operate a coal-based captive power plant adjacent to its cement manufacturing plant," the state-run Energy and Water Utilities Regulatory Authority (EWURA) said in a statement on Tuesday. "Any interruption in power supply or unstable voltage/frequency ...

Dangote Cement nine-month pretax profit up 1.5%

04 November 2014, Published under Cement News

Dangote Cement said on Monday its pretax profit for the nine months to September rose 1.5 per cent to NGN154.05bn (US$930.7m), compared with NGN151.72bn in the same period of last year. Revenue for the nine month period was NGN310.21bn versus NGN288.98bn in 9M13, the company said in a filing with the Nigerian Stock Exchange. Price cuts The company has recently slashed prices in the country, reportedly to its lowest level since 2005. The company's  32.5 cement grade now selling at NGN1000...

Exports loom: Dangote has 29Mta of production in sight

24 October 2014, Published under Cement News

Alhaji Aliko Dangote, president of Dangote Group of Companies, said the company's cement production will hit 29Mt in Nigeria by December this year, while exports will be the next step. Speaking at the Obajana cement plant yesterday, the Dangote president said the 29Mt will be possible after the commencement of operations of the fourth phase of the Obajana cement plant. Mr Johnson Olaniyi, Dangote's regional sales director, said the company will soon start exporting the product to other ...

Ghana: Dangote sets retail price reduction deadline

21 October 2014, Published under Cement News

Dangote Cement says it expects all retailers of its cement to reduce the price by GHS2.70 by Friday, 24 October following concerns that retailers have failed to cut prices after a reduction announced by the cement producer. Dangote reduced its price on 9 October, the day after Diamond Cement and Ghacem cut their prices by GHS2 following the gradual appreciation of the credit agains the US dollar. Speaking to Citi Business News, Dangote’s sales and marketing manager, Joeseph Kobina Abu...

Dangote reduces Ghana prices on cedi appreciation

15 October 2014, Published under Cement News

Dangote, has reduced prices of its cement by GHS2.70 following the gradual appreciation of the Cedi against the dollar and other major international trading currencies. Joeseph Kobina Abu, sales and marketing manager of Dangote Cement Ghana Ltd said the company has  reduced "the price from GHS30.75 to GHS28.05 “. The reduction took effect on 9 October 2014. GHACEM had also reduced its ex-factory price from GHS30.55 to GHS27.965/50kg bag, effective Tuesday, 7 October.

Nigeria: Benue State to sell remaining Dangote Cement plc stake

30 September 2014, Published under Cement News

Nigeria’s Benue Investment and Property Co Ltd is expected to sell the remaining Dangote Cement plc shares held in trust for the state’s inhabitants on the Nigerian Stock Exchange for a target value of NGN20bn (US$122m), according to sources quoted in This Day Live. The previous sale of the shares erased about 30m shares valued at over NGN7bn of the original 90m shares, which Benue State held in Dangote Cement following the 2010 merger of the defunct Benue Cement Co Plc with other Dangote...