Nigerian mogul Aliko Dangote has signed two major
deals with Togo, both amounting to a total of $2.060 billion. The
agreements were signed by Dangote and Togo’s minister of mines, Marc
Ably-Bidamon
The first deal which corresponds to an investment of
about $2 billion will focus on valorizing and transforming Togolese
phosphate in phosphate fertilizers for export across West Africa. This project
should be launched by Dangote Industries Limited before the year ends,
according to a release from the Togolese Presidency’s Information and
Communication Directorate.
The second deal, an investment of $60 million,
concerns the construction of a new cement factory in Togo. The facility should
produce 1.5 million tons of cement using Togolese and Nigerian clinker. The
output will satisfy both the local demand and that of neighbouring countries.
Five hundred jobs will be created under this project.
With the new cement plant, which is expected to come online by the end of the coming year, Togo will be having four cement producers. The other three are HeidelbergCement (CIMTOGO active in Lomé and Kara), WACEM and Diamond Cement. https://www.togofirst.com/en/mining/0911-4346-togo-dangote-inks-two-major-deals-with-the-government-to-invest-in-the-cement-and-phosphate-sectors
