Aliko Dangote To Invest $400M In Ethiopian Cement Plant

Aliko Dangote, Africa’s richest man, has announced a $400 million plan to revive a second production line at the Mugher cement plant in Ethiopia, aiming to double the facility’s annual capacity to 5 million tonnes.

Bloomberg reported that the Ethiopian plant that became operational in 2015 faced challenges, including recurrent violence in the region.

This led to protesters’ vandalism of vehicles and machinery. The country manager of Dangote Cement Plc and two other staff were shot dead in 2018, the report recalled.

“Despite the ups and downs, we have successfully repaid all our loans and repatriated our profit,” the Dangote Industries Ltd. chairman and chief executive officer told reporters on Saturday in the Ethiopian capital, Addis Ababa.

“The expansion project is expected to be operational within the next 30 months,” Bloomberg quoted him as saying.

Dangote also announced plans to establish a new greenfield cement grinding unit with a capacity of 3 million tonnes per annum.

He said that in collaboration with state-owned Ethiopian Investment Holdings, Dangote Industries will invest in the Omo Kuraz sugar factory.

Aliko Dangote, Africa’s richest man, has built a vast business empire through the Dangote Group, which operates in multiple African sectors. His investments are mainly in manufacturing, infrastructure, and agriculture, focusing on reducing Africa’s dependence on imports.

Dangote Cement is Africa’s largest cement producer, operating in over 10 countries, including Nigeria, Ethiopia, Tanzania, and South Africa. According to estimates, the company has a production capacity of over 51 million metric tonnes per year, helping to reduce Africa’s reliance on imported cement.

There is also the Dangote Refinery in Lagos, Africa’s largest oil refinery and one of the world’s biggest single-train refineries. It has a refining capacity of 650,000 barrels per day, aiming to make Nigeria self-sufficient in fuel production and reduce fuel imports.

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Via: Bloomberg