By Clement Abayomi
Dangote Cement Plc has signed a $1 billion agreement with China’s Sinoma International Engineering in Lagos to build and expand cement plants across seven African countries.
The deal, reported by Business Insider Africa, covers 12 different projects. This massive investment is part of Aliko Dangote’s plan to increase his company’s total cement production to 80 million tonnes every year by 2030. The move aims to help the Dangote Group reach a total revenue goal of $100 billion.
It is under this agreement that Sinoma International will manage the construction of new factories and improve existing ones. The work will take place in Nigeria, Ethiopia, Zambia, Zimbabwe, Tanzania, Sierra Leone, and Cameroon.
Specifically, the projects include a new production line in Nigeria and several “satellite” units for grinding cement. Other work will focus on making current plants in places like Apapa, Lekki, and Port Harcourt more modern and efficient.
Aliko Dangote, the President of the Dangote Group, said these projects are “critical” for the company. He explained that the new plants will help the company meet the high demand for building materials across the continent.
Dangote Cement wants to lead the African market and export more products to neighbouring countries through expansion.
This expansion is happening alongside other big projects by the group. The company noted that its fertiliser plant is already a major hub for West Africa.
The Dangote Refinery is now working at its full capacity, producing 650,000 barrels of fuel daily. Experts have considered these moves as a way of showing how the company is trying to control major industries like construction, energy, and farming in Africa.
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