Togo's vast phosphate resources are mostly exported in their raw form, and Dangote's project aims to process some of that phosphate in order to make fertiliser in-country, aiming to export it to the region.
The cost of the project is around US$2 billion, a statement from Togo's government said.
Dangote also signed a deal to build a cement factory at a cost of around US$60 million. Construction of the factory is set to start in the first quarter of 2020, and it will begin producing by the end of next year, according to the statement.
The cement would serve the Togolese market, as well as export to neighbouring countries.
The deal also marks Dangote's first push into Togo, setting billionaire, Aliko Dangote's firm up for competition against Germany's HeidelbergCement and Fortia Cement.
Read the article online at: https://www.worldcement.com/africa-middle-east/11112019/dangote-signs-deal-to-build-cement-factory-in-togo-africa/
You might also like
The company's operating result has risen to a record level – group revenue is at €21.2 billion (+4%), with the result from current operations (RCO) at €3.0 billion (+29%).