Nigeria’s
Dangote Cement announced a $322 million deal in Niger. The project
concerns the construction of a clinker production unit, a gas-fired power plant
and cement plant which is expected to deliver 4,500 tons per day.
Through
this complex, scheduled to be completed by 2021, Dangote wants to close the
cement production gap in this emerging country. Indeed, Niger is betting on the
development of such facilities to support its economic growth as mentioned in
the Economic and Social Development Program presented to the International
Monetary Fund. In addition, the government is aiming high for its oil industry
and a Niger-Benin pipeline is planned for that purpose.
It should however be noted that Dangote Cement is struggling to achieve its profitability expectations on the continent. During the first half this year, the group suffered a 37.3 billion naira loss for operations in Africa. Losses in H1 2018 were a little over 26 billion naira.https://www.ecofinagency.com/finance/2808-40429-dangote-cement-plans-322-mln-factory-with-4-500-t/d-capacity-in-niger
