Dangote starts construction of a $500m cement plant in Tanzania

Dangote cement has started the construction of a $500 million cement plant which will be able to produce three million metric tons of cement per year when finished. The cement plant is to be located in Mtwara, Tanzania. The commencement of this plant Dangote said is part of the group’s strategy to increase its cement production capacity.

“Our investment in this sector, which is outside the traditional mining sector, is to take advantage of limestone in the country and work towards making Tanzania self-sufficient in cement production. We must commend the government and people of Tanzania for recent public sector and banking reforms as well as revamped and new legislative frameworks, which have spurred private sector-driven investment,” Dangote said.

Dangote also assured the host community of Mtwara that the company coming to their community will impact their lives positively.

“While we are in business of creating wealth primarily, we are also mindful of the needs to touch lives of people. As a company, we have always been conscious of the need to give a little of our profits back to the society as a guarantee for sustainable business success.” He said.

The plant is expected to be completed by 2015.

Dangote Cement is the biggest arm of the Dangote Group and currently produces about 21 million metric tons of cement per year which it hopes to increase to about 50 million metric tons by the end of 2015.

Dangote is by far the biggest company in the Nigerian Stock Exchange and account for about a third of the exchange’s total value.

Dangote Group is on a path to become bigger as it also plans to build a refinery inOndo State, Nigeria which is expected to be completed by 2016.

Posted in Business, Machines