Cement News tagged under: Dangote Cement

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Dangote cement defers LSE listing

22 August 2013, Published under Cement News

Dangote Cement has delayed plans for its listing on the London Stock Exchange (LSE) to 2014. Alhaji Aliko Dangote, chairman of Dangote Group, had announced the company intended to float a 20 per cent stake in Dangote Cement to finance its rapid expansion. Dangote's Vice Chairman, Alhaji Tajudeen A Sijuade, told Citi Business News, the company is on track to meet the stringent corporate governance requirements for a premium listing and is likely to list next year. “Maybe next year we have g...

Ethiopian government commends Dangote over new cement plant

19 August 2013, Published under Cement News

The prospect of large job creations arising from the establishment of the new cement plant has encouraged the government of Ethiopia has commend the effort of the president of Dangote Group, Alhaji Aliko Dangote, and promised to provide the enabling atmosphere to make the business thrive. The commendation, conveyed through a letter from the government of Ethiopia to Alhaji Dangote came on the heels of a similar appreciation by the government of Tanzania over the recent ground-breaking cere...

Dangote sees 53% pretax profit rise, Nigeria

29 July 2013, Published under Cement News

Dangote Cement plc announced a NGN107.7bn (US$670m) profit before tax for the first half ended 30 June 2013. According to the firm’s six-month financial result released to the NSE, the profit before tax rose by 52.8 per cent compared to NGN70.8bn recorded in the corresponding period in 2012. Gross profit also increased, by 43.8 per cent from NGN91.9bn to NGN132.1bn, while operating profit moved up from NGN76.4bn to NGN111.1bn, indicating an increase of 45.4 per cent. The company saw...

Dangote Cameroon works on-track for 2014 start

26 July 2013, Published under Cement News

Construction on Dangote’s new cement plant in Elf du Wouri, Cameroon, is on schedule to start production in January 2014. Representing an investment of XOF58.5bn (US$119m), Dangote Industries Cameroon is expected to first produce 1Mta local press have reported. The plant has the option to expand output to 1.5Mta.

Sephaku Cement's two projects on track for 2014 completion

01 July 2013, Published under Cement News

The construction of Sephaku Cement's ZAR3.2bn (US$322m) Delmas grinding plant and the Aganang clinker and cement works in South Africa are both at an advanced stage of development and are on schedule to commence production in the first two quarters of 2014. In a recent report the Dangote subsidiary said that the 1.4Mta Delmas cement milling plant in Mpumalanga is on-track for completion in the final quarter of 2013, with production due to start in January 2014. The grinding works will  rece...

South African firm stakes NGN45.7bn on Dangote Cement

11 June 2013, Published under Cement News

Public Investment Corporation of South Africa (PIC) Monday bought 255,607,605 shares or 1.5 per cent of Dangote Cement Plc for NGN45.75bn (US$0.29bn) from Dangote Industries. PIC is owned 100 per cent by South African government and it has funds valued at US$115bn under its management. Although no explanation was given by Dangote Cement regarding the acquisition, PIC is now holding 1.5 per cent in addition to the 5.11 per cent of the company’s  shares available for trading on the Nigerian...

Dangote breaks ground on Tanzania plant

28 May 2013, Published under Cement News

Dangote Cement has marked the next step of its impressive African expansion drive by laying the foundation stone for a new cement plant in Tanzania. "The groundbreaking ceremony of the 3Mt cement factory takes place today [27 May 2013] in Tanzania, a statement from the Dangote group said. The Tanzania plant forms part of the company’s plant to expanding its operations not only in its domestic market of Nigeria, but further afield in other west and central African markets. Expansi...

Dangote sees strong start to second quarter, Nigeria

02 May 2013, Published under Cement News

Nigeria’s largest cement producer, Dangote Cement, has said strong demand in April is likely to help boost second-quarter revenue to NGN98.5bn (US$623.3m). However, the start-up of its long-awaited plant in Senegal  is facing further delays due to land issues. Dangote said in a statement that pretax profit is expected to reach NGN50.6bn (US$320m). First-quarter net income rose 81 per cent to NGN53.7bn as volumes rose by 38 per cent. “The year has begun well for Dangote Cement and our 38 p...

Dangote Cement net profit boosted by increased capacity

25 April 2013, Published under Cement News

Dangote Cement Plc, Nigeria’s largest cement producer said full-year profit gained 24 per cent attributed to increased capacity improving sales. Net income for the year through December advanced to NGN149.6bn (US$941.8m) from NGN120.9bn earlier, the company said in an e-mailed statement.  Revenue rose 24 per cent to NGN298.5bn. Chairman Aliko Dangote, said new capacity accounted for a 20 per cent increase in sales. “By the end of 2012 we were preparing to make Nigeria an exporter of c...

Dangote forays into to oil and gas sector

26 March 2013, Published under Cement News

Aliko Dangote, CEO of the Dangote Group, is moving into the oil and gas sector as he eyes up Chevron and Shell oil fields to feed the group’s planned US$9bn refinery, the largest privately-owned refinery facility in the country. He intends to acquire the oil companies’ blocks of oil-rich swamp – formerly intended for the Olokola LNG project, which was expected to supply two trains of 6.3Mta of LNG, with a final capacity of up to 35Mta. To realise his plans, he has put in the highest bid f...