Oct 6, 2011 – Aliko Dangote To Build New Cement Plant in Ethiopia
Nigeria’s Dangote Group, which has seen a rapid expansion on the continent, has signed an agreement to set up a $400 million cement plant in Ethiopia, Reuters reports on Thursday.
The report quoting the Ethiopian state media says the deal was signed on Wednesday between Dangote’s president and Chief Executive Officer Aliko Dangote and officials from the Ethiopia’s Oromiya region, where the plant will be constructed with an aim of producing two million tonnes per year.
The project is scheduled to be finalised in 2013.
Dangote, Africa’s most successful businessman, controls about two-thirds of the Nigerian cement market and seeks to expand his interests in the world’s poorest continent.
He has also invested in Ghana’s 1.2 million tonnes per year Tema Cement Factory, and other plants in Senegal, Zambia, Tanzania, Democratic Republic of Congo and Equatorial Guinea (The Nation).