Cement News tagged under: dangote cement
Nigeria: Dangote signs US$2bn Chinese bank loans for two cement plants13 April 2016, Published under Cement NewsDangote Group has signed a deal on Tuesday for a US$2bn loan from the Industrial Commercial Bank of China Ltd for two cement plants, according to Reuters. “The interest rate is okay, quite favourable with me,” Dangote said, without elaborating. “It’s for my two cement companies that we are establishing in Nigeria.” The deal included China Export & Credit Insurance Corporation. |
Nigeria: Work commences on Dangote’s Okpella plant11 April 2016, Published under Cement NewsA groundbreaking ceremony for the construction of a new cement plant has been held as part of celebrations to mark Aliko Dangote’s 59 th birthday. The News Agency of Nigeria reports that the new plant, in Okpella in southern Nigeria, is projected to cost US$1bn and will have a capacity of 6Mta. In its 2015 annual report Dangote Cement said that the new plant would be half this size, with a still-considerable capacity of 3Mta. The increased capacity plans at Opkella reflect Dangote’s c... |
Ethiopia: Dangote keen on further expansion07 April 2016, Published under Cement NewsSpeaking to Ethiopian news portal, 2Merkato, Aliko Dangote, announced the Nigeria-based cement group would expand its investment in Ethiopia. Aliko Dangote, the Nigerian billionaire and chairman of Dangote Industries established a US$600m plant in Ethiopia in June 2015, but plans are on the table to expand the 2.5Mta factory. Commenting on the development, Mesfin Abera, the company’s sales and marketing head, said Dangote Industries has decided to expand the existing plant. The 2.5Mta exp... |
Dangote Cement full-year boosted by new African plants02 March 2016, Published under Cement NewsDangote Cement posted a 25.6 per cent rise in 2015 revenues to NGN491.7bn (US$2.47bn) as new plants performed strongly across Africa, the company reported yesterday. New production facilities opened by the group in Senegal, Cameroon, Ethiopia and Zambia made their first contributions to the business in 2015 and as a result, volumes rose by 35 per cent to 18.9Mt. “New factories performed very successfully across Africa, gaining significant market share against long-established incumbents,” ... |
Gambia minister refutes reports on Dangote licence18 February 2016, Published under Cement NewsGambia's Information Minister, Sheriff Bojang, has refuted claims that Dangote Cement was denied a licence to establish a local cement plant, explaining that such an investment was never on the cards given the west African country's lack of raw materials. In December 2015 an African news agency reported that Dangote had secured land and started implementing equipment for a new cement plant project in Gambia, but that the said licence was subsequently blocked to protect domestic cement impo... |
Dangote Cement to target 76.5Mta capacity in Africa by 2020, CEO tells Cemtech 25th anniversary conference09 February 2016, Published under Cement NewsCemtech’s 25th anniversary celebrations have commenced as the international conference and exhibition series opens its doors in Dubai, UAE, for its annual Cemtech Middle East & Africa meeting. In his welcome address to delegates conference director, Thomas Armstrong, welcomed Guest of Honour, His Excellency Sheikh Yasir Al Qassemi, General Manager of Union Cement Company and Chairman of the UAE Cement Producers’ Association, alongside senior industry figures including Ahmad Al Rousan, Gener... |
Ghana: Ministry on cement-trade-war alert29 January 2016, Published under Cement NewsDr Ekwow Spio-Garbrah, Ghana's Minister of Trade and Industries, says his Ministry is undertaking a thorough evaluation of various interests in the current trade-war between local cement manufacturers and importers. Local cement makers are claiming cement imports from Nigeria and China are flooding the market, thus making their businesses uncompetitive. Dr Spio-Garbrah said the exercise, with references to price build-ups in other countries, should enable the ministry pronounce appropriatel... |
Dangote outlines plans to expand Ethiopian operations20 November 2015, Published under Cement NewsDangote Cement is to invest US$450m to double capacity at its Oromia plant in Ethiopia. Local press reported that the Nigerian cement producer has already received a 36ha plot of land from Oromia State, near the plant's site in Mugher, Adebern Wereda The company requested the land from Oromia Investment Commission in September 2015. Now it is processing right of way issues at Wereda level, AllAfrica News reported. The new plant will employ 1300 people when it is completed, according to All ... |
Dangote Cement 9M15: new operations help offset weaker domestic demand27 October 2015, Published under Cement NewsDangote Cement said nine-month profit gained 12 per cent as its new operations across the African continent helped offset weaker demand in its home market of Nigeria. Net income was NGN158bn (US$794m) in the nine months through September, compared with NGN141bn a year earlier, the company said in a statement on Monday. Sales rose 18 per cent to NGN366bn. Lower oil prices and a weaker currency were among factors weighing on the Nigerian business, where sales declined 0.7 per cent. “Our n... |
Dangote commissions 3Mta Tanzanian plant13 October 2015, Published under Cement NewsDangote Cement has commissioned its 3Mta Mtwara cement plant in Tanzania and held a groundbreaking ceremony for a 26ha jetty, as the Nigerian cement major continues its expansion drive in Africa and beyond. The new plant is expected to reduce imports into Tanzania as well as bring down prices in the country. The company aims to Tanzania's main consumption centres as well as neighbouring markets. Dangote Cement previously noted that although located near the coast, the plant will be able to ... |