Sinopia News Top

Ethiopia: Dangote, China’s Sinoma Inked USD 4.34 Billion Deals to Built Cement Plants Across Africa

DangoteNigeria’s Dangote Cement inked deals with China’s Sinoma International Engineering Co. worth USD 4.34 billion on Wednesday, August 26, 2015, to construct cement plants in African countries, Reuters reported.

The plants will be constructed in Cameroon, Ethiopia, Kenya, Mali, Niger, Nigeria, Senegal and Zambia and this will add 25 million tons to the company’s current production capacity, 45 million tons, according to Dangote.

“The projects are going to be delivered within the next 30 months,” Dangote noted.

“We are not going to stop there. By 2020 we are targeting 100 million tons, he added.

Dangote also stated, in July, sales outside Nigeria rose to 14 percent of total revenue by June 30 from 3 percent a year ago.

Source: af.reuters.com