Dan­gote to build N66bn ce­ment plant in Niger Rep

Daily Trust - - NEWS -

Bil­lion­aire Aliko Dan­gote is build­ing a 200-bil­lion CFA francs ($421.35 mil­lion, about N66­bil­lion) ce­ment fac­tory in Niger ca­pa­ble of pro­duc­ing 1 mil­lion tonnes per year, state ra­dio in Niger an­nounced on Thurs­day.

Pres­i­dent Ma­hamadou Is­soufou for­mally started build­ing work on the fac­tory on Wed­nes­day at Keita, around 600 km (375 miles) north­east of the cap­i­tal Ni­amey and it is ex­pected to take 18 months. When fin­ished the fac­tory will em­ploy 3,000 people.

Niger, with a fast-grow­ing pop­u­la­tion of 17 mil­lion people, is one of the world’s poor­est coun­tries. It has some of the low­est govern­ment rev­enues per capita in Africa de­spite the start of oil pro­duc­tion in 2011.

“This is an im­por­tant event af­ter the rail­way project started on April 7 last year. This ce­ment fac­tory will con­trib­ute a lot to the eco­nomic de­vel­op­ment of Niger,” Is­soufou said at the ground­break­ing cer­e­mony. “Niger is for now a ce­ment im­porter but when this project comes on stream it will be­come a ce­ment ex­porter,” he said.

Dan­gote Ce­ment, owned by Africa’s rich­est man Dan­gote with a per­sonal for­tune of $25 bil­lion, has ce­ment plants span­ning Africa, from Sene­gal to South Africa.

The com­pany saw its 2013 prof­its in­crease by 40 per­cent to 190.76 bil­lion naira ($1.16 bil­lion), from 135.64 bil­lion naira a year ear­lier.

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