DANGOTE STILL BETTING ON GROWTH IN THE CEMENT MARKET
…….to build new plant, appoints new CEO
Dangote Industries Limited, the parent body to Dangote Cement Plc, has signed an agreement with China Sinoma International Engineering to build a six million tons per annum (6Mta) cement (6mtpa) plant in Itori, Ewekoro local government area of Ogun state. Dangote Cement Plc which is listed on the Nigerian stock Exchange, is Africa’s leading cement producer with 51.6Mta production capacity across Africa with Nigeria accounting for 35.25Mta. Its cement plants in Nigeria are: Obajana plant in Kogi state (the largest in Africa) with 16.25Mta of capacity across five lines; Ibese plant in Ogun State with four cement lines and capacity of 12Mta; Gboko plant in Benue state has 4Mta; and Okpella plant in Edo state has 3Mta. Speaking at the signing of cement plant construction and operations agreement, the Chairman of Dangote Industries and Africa’s richest man, Aliko Dangote said the new integrated cement plant at completion would strengthen the local production capacity of Dangote Cement, bringing its local capacity to 41.25 million tons per annum and total African capacity to 57.6 million tons per annum. He added that this will increase Nigeria’s capacity to export cement bringing in foreign exchange inflows to the country. Meanwhile, Dangote Cement Plc has named Arvind Pathak as the company’s new chief executive/managing director. Mr Pathak will replace, Michel Puchercos, who leave the company after three years after three years as CEO . The new CEO’s tenure begins on 1 March, the disclosure by Dangote Cement to the Nigeria Stock Exchange stated
Mr Pathak was CEO of India’s Birla Corporation, a cement producer, before he became the chief operating officer and deputy managing director of Dangote Cement. He formerly served at Mumbaibased Associated Cement Company Limited as regional CEO and has experience spanning more than 30 years, which includes transforming businesses, spearheading crucial greenfield projects, as well as overseeing operations and plant maintenance.