Dangote Cement Commits N800bn to Capacity Upgrade 

Dangote Cement Plc has said it is on track to deliver on its target of achieving 62million metric tons capacity utlisation by 2016 as it pursues its expansion to 13 African countries.
Consequently, the company said it will commit over $5billion (about N800 billion) towards actualisation of the set goal. Addressing the stock broking community at the ‘Facts behind Figure’ presentation on the Nigerian Stock Exchange, NSE, the Group Managing Director/CEO, Dangote Cement, Mr. D.V.G. Edwin, said all the lines in its target markets are nearing completion and would commence operations. According to him, commissioning of the Senegal plant, which is expected to contribute 1.5MT per annum by the end of this year, has already commenced, while Ethiopia plant expected to contribute 2.5MT by year end would commence operation before the end of 2014 financial year. Furthermore, the Zambian and Cameroon plants expected to deliver combined capacity utilization of 3.0MT per annum, would commence operation this year, while that of Sierra Leone would be up for commissioning by Q4, 2014, he said. He noted that Dangote Cement currently accounts for 70 % share of capacity of the cement market in Nigeria if no other plant is built. He explained that while the cement market has been growing at average of 10.9 % from 2004 to 2013, Dangote Cement’s monthly growth has been 20.9 % as new capacity enabled it gain more market share.

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