Dangote To Build $400 Million Cement Plant In Kenya

Africa’s richest man, Aliko Dangote, plans
to invest $400 million in a cement plant in
Kenya, the east African nation’s president’s
office said.
Dangote owns various businesses under the
umbrella company of Dangote Group, among
them, Dangote Cement (DANGCEM.LG ), which
said in May it was investing $5 billion to build
cement plants on the African continent.
He was part of a business delegation that was
visiting Kenya with Nigeria’s President
Goodluck Jonathan. The countries signed
bilateral deals in sectors including tourism,
agriculture and oil and gas.
“(President Uhuru Kenyatta) particularly cited
the … the decision by Nigerian tycoon Aliko
Dangote to invest $400 million in a cement
processing plant as an indicator that an
“exciting journey has begun”,” Kenyatta’s office
said in a statement late on Friday.
The statement did not give details on timelines,
or the plant’s capacity. There was no
immediate comment from the company.
Dangote Cement, Africa’s biggest, said earlier
this year it would expand its pan-African
production capacity to 55 million tons by
2016, without giving a comparable figure.
Other countries the cement company has
previously said it planned to venture into
include Cameroon, Ethiopia, Zambia, Tanzania,
Senegal and South Africa.
Cement companies already operating in Kenya
include Bamburi Cement (BAMB.NR ), ARM
Cement (ARM.NR ) and East African Portland
Cement (PORT.NR ).
Kenya produced 412,529 tons of cement in
July, up from 402,621 tons a month earlier,
according to the Kenya National Bureau of
Statistics. Cement consumption stood at
332,009 tons, from 341,942 tons a month
earlier.