Nigeria’s Dangote Cement reveals to spend 1bn for expansion

Nigeria-based Dangote Cement has registered a jump in its revenue in 2013 to NGN 386.20bn (€1.7 billion/US$2.34 billion), up by 29%. The company has recorded an increase in its net income in 2013 from NGN 145.1 billion in 2012, to NGN 201.9 billion. Its sales stood higher to 13.3 million tonnes, up by 28%. In 2014, the cement company aims to expand its plant under an investment of around US$1 billion (€725.59 million).
March 31, 2014 Read time: 1 min

Nigeria-based 7635 Dangote Cement has registered a jump in its revenue in 2013 to NGN 386.20bn (€1.7 billion/US$2.34 billion), up by 29%.

The company has recorded an increase in its net income in 2013 from NGN 145.1 billion in 2012, to NGN 201.9 billion. Its sales stood higher to 13.3 million tonnes, up by 28%.

In 2014, the cement company aims to expand its plant under an investment of around US$1 billion (€725.59 million).

Between 2014 and 2016, it targets to complete the construction work on its plants in Obajana and Ibese, as well as projects in Cameroon, Senegal and Zambia. By 2016, the company plans to increase its production capacity to over 60 million tonnes by expanding into 13 countries in Africa. At present, it has a production capacity of 20.3 million throughout its three plants in Nigeria.

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