Cement News tagged under: Dangote Cement
Dangote Cement new Zambia plant facing delays31 May 2012, Published under Cement NewsConstruction of Dangote Cement’s US$500m cement plant in Masaiti District, Zambia, has suffered a setback following delays by the government in issuing a mining license. Speaking to the Times of Zambia, Dangote Industries general manager Viveka Heblikar said his company had submitted all the documentation and was only waiting to be granted the mining licence. As a result, the company cannot undertake any mining activity in the area. But Mines Minister Christopher Yaluma said the issua... |
Dangote’s Calabar plant nears completion, Nigeria29 May 2012, Published under Cement NewsDangote Cement’s 6Mta plant in Calabar, Cross-River state is expected to be completed in July, Alhaji Aliko Dangote Chairman of the company has said. Mr Dangote said the plant was almost completed and will be ready within 60 days. Its strategic location means that it will serve the domestic market of Nigeria as well as nearby markets such as Cameroon and Gabon. He added that with the planned expansion of the Ibese cement works (Nigeria)with another two 3Mta lines, the 11 June commissio... |
Dangote 1H12 profit forecast, Nigeria14 May 2012, Published under Cement NewsNigeria-based producer Dangote Cement said net income for the six months through June will probably be NGN77.5bn (US$492.5m), according to reports from Bloomberg. Revenue is forecast at NGN150.3bn, the African cement major said in a statement published on the Nigerian Stock Exchange’s website. |
Dangote’s first quarter and full-year advances, Nigeria10 May 2012, Published under Cement NewsDangote Cement Plc on Wednesday released its results for the first quarter and also its financial year ending December 2011 to the Nigerian Stock Exchang. The company said 1Q revenue grew by 17.6 per cent from NGN54.51bn (US345.6m) in 2011 to NGN64.11bn first quarter this year, while its revenue for full year 2011 stood at NGN235.91bn. First quarter pretax profit rose by nine per cent to stand NGN30.32bn compared to NGN27.83bn recorded in first quarter of last year, while profit before t... |
Nigeria: cement manufacturers seek import ban23 April 2012, Published under Cement NewsNigerian cement manufacturers have called on the federal government to ban bulk cement imports before the government’s August deadline, claiming that the volume of cement currently produced in the country is enough to meet local demand. “[The] Government should enforce the ban before the August deadline,” said Mr Daljeet Ghai, Dangote Cement group chief executive. “Dangote alone has the capacity needed to meet local demand and sustain supply of the commodity across the nation,” he said. B... |
UBA in talks with Dangote for new partnership20 April 2012, Published under Cement NewsPan-African lender United Bank for Africa is in talks with Aliko Dangote for a partnership to provide banking services to his Dangote Cement group in 13 countries, its chief executive said. Phillips Oduoza told the Reuters Africa Investment Summit in Lagos on Thursday the move would leverage their overlapping presence across the continent. UBA is in all of the 14 countries in which Dangote is building cement plants, except for South Africa. "We are thinking of a strategic partnership betw... |
Dangote Cement pretax profit advances, Nigeria05 April 2012, Published under Cement NewsDangote Cement said its pre-tax profit rose to NGN118.28bn (US$750.70m) in 2011, compared with NGN117.84bn in the previous year. Nigeria's biggest capitalised company proposed a 1.25 naira per share dividend, plus one bonus share for each 10 held. Turnover rose marginally to NGN235.91bn, compared with NGN235.70bn in the previous year, the company results said. |
Dangote to list on London Stock Exchange – report02 April 2012, Published under Cement NewsNigeria-based cement producer Dangote Cement has mandated JP Morgan and Morgan Stanley to handle its London listing, according to a report in the Financial Times. Dangote Cement intends to float its stock on the London Stock Exchange in 2013 hoping to have made significant progress in its business expansion by next year, the paper reported. Dangote eyes a free float of 20 per cent and plans to use the proceeds to fund its swift business growth. The FT also cited Dangote Cement’s cha... |
Dangote Cement to invest in Liberia20 March 2012, Published under Cement NewsDangote cement is planning to invest over US$35m in the west African country of Liberia through its Dangote Cement Liberia subsidiary, Aliko Dangote, group president and CEO, signed a memorandum of understanding with the Liberia government at the head office of the National Port Authority on Friday. The Dangote Group has previously outlined plans to build a 0.5Mta import terminal in Monrovia which is the main commercial port facility in the country. Signing on behalf of the Liberian... |
Dangote’s Zambia cement plant on schedule19 March 2012, Published under Cement NewsConstruction of Dangote Cement’s new US$365m cement plant in Masaiti District is progressing well and on schedule, logistics manager Kampewa Nundwe told the Times of Zambia. The new plant, with a capacity of 1.5Mta is situated on the Copperbelt and is scheduled for completion in the second half of 2014. Mr Nundwe said the Chinese contractor has completed clearing the site and more equipment from Germany was expected to arrive in the country shortly. “We are expecting more equipment w... |