Dangote to expand Ibese cement plant to 12m metric tons

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Aliko Dangote

Aliko Dangote

President of Dangote Group, Aliko Dangote has unveiled plans to expand the newly commissioned Ibese cement plant’s capacity from six million metric tons per annum to 12 million metric tons per annum.

He also assured Nigerians of the availability of cement in the country, adding that in no time, the supply of cement will surely be more than the demand and that will ultimately result in significant reduction in price of the commodity.

Speaking on Tuesday at the floor of the Nigerian Stock Exchange (NSE) in Lagos, Alhaji Dangote said that the agreements for the expansion of Ibese and Obajana plants had been signed.

He disclosed that with the planned commissioning of production line-three of the Obajana Cement plant in Kogi State next month and the extra one million metric tonnes expected from Gboko plant in Benue State, Dangote Cement is set to become the world largest cement producer.

In a statement from the Dangote Group, the Company’s President  said the above projects will be ready in the next 26 months.

Giving a presentation on ‘A Pan African Cement Producer,’ the  entrepreneur explained the logic behind his plan for the spread of his cement project across other African countries especially the sub-Saharan African countries.

He stated that the group’s vision in building cement plants across Africa is to diversify risk across geographical boundaries, be the leading cement producer in Africa, the next logical step after achieving domestic dominance, capture demand in the large commercial centers with high population and urbanization growth rates.

“To supply land locked countries which pay a very high price for imported cement. As of now, Dangote Cement is the fastest growing cement company in Africa as it presses on with an impressive expansion drive in spite of the tasking global financial climate,” he said.

Dangote said that the group was planning to build a 1.5 million metric tonnes per annum cement factory in Calabar, adding that with the abundance of gas in the area, it would be easier to produce clinker in Calabar and export the same to Gabon for cement production in the country.

Dangote Cement, he told the stockbrokers aims at becoming a leading international cement producer and being ranked amongst the top 8 cement producers by 2014.

In his address earlier, the Director General, Nigerian Stock Exchange (NSE), Oscar Onyema expressed happiness that Dangote Cement was the first Nigerian company to join Forbes Global 1000 companies.

He urged other Nigerian entrepreneurs to emulate Dangote in investing in the Nigerian economy, pointing that the size of the nation and the largeness of her population were a great incentive for genuine investors to latch on to.

 

In : Business