Gov’t endorses Nigerian billionaire’s investment plan
The Government of Liberia has endorsed a proposal by Nigerian billionaire Aliko Dangote to construct a 20-megawatt power plant in the country to primarily provide electricity for a cement factory that is to be constructed by the businessman soon.
The government and the Dangote Business group, few years ago, identified seven acres of land at the Freeport of Monrovia for the construction of a cement processing plant and a jetty, which will be complemented by the construction of the 20-megawatt power plant.
1.2 of the 20 megawatts of the coal-burning power plant will be used on Dangote’s cement factory operations while the government will buy the remaining at 12 cents per kilowatt hour maximum.
Dangote pointed out that throughout Africa, the major issue is power. “No power, no growth,” he declared. Any economy will climb to double digits once there is power at the right price, he said.
Dangote Cement – Africa’s largest cement manufacturer – is targeting a radical expansion plan across Africa which will include factories in Senegal, South Africa, Cameroon, Gabon, Benin, Ethiopia, Tanzania, Zambia and the Republic of Congo, while importing and bagging facilities are planned for countries including Ghana, Sierra Leone, Liberia, Cote d’Ivoire and Togo.