Dangote Cement’s capacity to hit 100 million tonnes by 2020
According to him, Africa needs to deliberately improve its per capita consumption of cement in order to aid infrastructural development by stimulating further demand and forcing down rising cost of the commodity.
Besides, Camerounian President, Paul Biya has commended Aliko Dangote for his massive investments in cement plants across Africa.
Biya gave the commendation at the weekend, while commissioning the 1.5 million metric tonnes Dangote Cement grinding plant in Douala, Cameroun.
Biya, who was represented at the commissioning ceremony by the Prime Minister, Philemon Yang also laid the foundation stone for the jetty in Base Elf area, Port Autonome De Douala.
Biya lauded Dangote’s investment in Cameroun, stating that the investment is consistent with his Government’s policy of inviting industries to contribute to the growth of the Camerounian gross domestic product.
He added that Dangote has shown willingness to play a significant role in the industrialisation of the Camerounian economy.
He stated that the new cement grinding plant and jetty are clear indications that Cameroun is open and welcome to investments from Nigeria and Africa, adding that as a liberal economy, the country supports investment from the private sector.
Aliko Dangote however described the plant as “our largest Greenfield project in a neighboring country with which we not only share a boundary but also a long history of brotherly relationship dating from our colonial days. Owing to the rich culture and history that we share, we have a better understanding of Cameroun.”
He disclosed that due to the warm welcome given to Dangote Cement, the company has decided to begin work on the second phase of the plant, which will see the doubling of its capacity from the current 1.5mmtpa to three mmtpa.
He said: “Our desire to increase our investment with the Phase II project is based on not only the fast growth rate of the Camerounian economy but also due to the warm welcome extended to us and the enabling environment created by the government of Cameroun.
“Our choice of Cameroun for this multi-million dollar investment is quite strategic. Cameroun is the largest economy in Central Africa and is well endowed with abundant natural resources.
“The country also enjoys political stability, adequate security and growing infrastructural development. In addition, President Biya has created an enabling environment that has continued to attract investors both from within and outside the African continent.”
He noted that the desire to ensure that Africa becomes self-sufficient in cement production informed yesterday’s signing of a $4.34 billion contract with Sinoma International Engineering Company Limited, a Chinese construction giant, for the construction of 11 new cement plants in 10 African countries, and Nepal in Asia.