Africa’s Richest Man, Aliko Dangote will be opening a $60 million cement factory in Lomé, Togo.
In a press statement released over the weekend, Dangote Group said the construction of the plant would begin in the first quarter of 2020 and the inauguration expected at the end of the year.
The factory is expected to produce 1.5million tonnes of cement annually and will serve the demands of both domestic needs and neighbouring countries.
This new plant will be Dangote’s first push into Togo. This is expected to see Dangote in fierce competition with Germany’s HeidelbergCement, which is the dominant cement producer in Togo.
Dangote Group also signed a partnership agreement with the Togolese Government to produce fertilizer from Togo’s phosphate reserve.
Togo has over 2 billion tonnes of phosphate reserve. Most of the phosphate are exported in raw form. With the partnership agreement, Togo is expected to produce an extra 1 million tonnes of fertilizers and become an exporter of finished fertilizer products.
Culled from www.punchng.com