Zimbabwe/Africa: Aliko Dangote, President of Nigeria's Dangote Cement, has announced plans to open a US$400m cement plant in Zimbabwe. He also announced plans to invest in coal mining and power generation in the country.
"We've already decided to invest into Zimbabwe. That's why we are here," said Dangote following meetings with Zimbabwe's President Robert Mugabe and Vice President Emmerson Mnangagwa. "Any country we visit means, 'Yes, we've decided to invest,'" Dangote told journalists in Harare.
Construction is due to start in the first quarter of 2016, following the granting of government permission. Once constructed, the plant will produce 1.5Mt/yr of cement.
More widely, Dangote has also stated that investments in new plants across Africa are expected to increase the company's cement capacity to 100Mt/yr by 2020. Dangote said that Africa needs to increase its per capita consumption of cement in order to aid infrastructural development, stimulate further demand and force down rising cost of the commodity.
