Dangote Cement’s Nepalese plant due for completion by end of 2017

In an interview with Bloomberg, Aliko Dangote, owner of Dangote Cement Plc, confirmed that the company hopes to complete a new cement plant in Nepal by the end of 2017. With an investment of US$400 million, the plant will have the capacity to produce some 2 million t of cement.

Mr Dangote told the newswire that the plant has received about 90% of regulatory approvals. It is estimated that reconstruction costs from April’s earthquake will exceed US$10 billion, and this doesn’t take into account the further damage caused by the second earthquake in May.

The fast-expanding cement company is also looking at possible opportunities in Brazil and South America. The investment in Nepal marks the company’s first venture outside of Africa and Mr Dangote told Bloomberg that future expansion outside of Africa would largely happen through acquisitions. Meanwhile, the company is planning to begin construction this year on a new US$350 million cement plant in Niger, which is expected to take 26 months to complete.

Adapted from source by Katherine Guenioui

Read the article online at: https://www.worldcement.com/asia-pacific-rim/18062015/dangote-cement-nepalese-plant-due-for-completion-by-end-of-2017-33/