Aliko Dangote, the richest person in Africa, is looking to expand cement capacity on the continent by 29% to 62 million tonnes, entrenching his flagship company’s position as the the continent’s biggest producer of the construction material.
The 62-year-old told shareholders in June the company plans to open plants in Nigeria that will allow it export clinker to grinding plants in Cameroon and West Africa.
Dangote, who is building one of the world’s biggest refineries in Lagos, Nigeria’s commercial capital, in addition to investments in gas and petrochemical plants, said he expects total group revenue to grow to about $30 billion from $4 billion when the plants start operations in the next two years.
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Frontpage November 17, 2017