Abuja — Aliko Dangote, Africa's richest man, has announced a $400 million plan to revive a second production line at the Mugher cement plant in Ethiopia, aiming to double the facility's annual capacity to 5 million tons.
The Ethiopian plant that became operational in 2015 has faced challenges, including recurrent violence in the region, Bloomberg reported.
This led to the vandalism of vehicles and machinery by protesters. The country manager of Dangote Cement Plc and two other staff were shot dead in 2018, the report recalled.
"Despite the ups and downs, we have successfully repaid all our loans and repatriated our profit," the Dangote Industries Ltd. chairman and chief executive officer told reporters on Saturday in the Ethiopian capital, Addis Ababa.
"The expansion project is expected to be operational within the next 30 months", Bloomberg quoted him as saying.
Dangote also announced plans to establish a new greenfield cement grinding unit with a capacity of 3 million tons per annum.
In collaboration with state-owned Ethiopian Investment Holdings, Dangote Industries will invest in the Omo Kuraz sugar factory, he said.
Aliko Dangote, Africa's richest man, has built a vast business empire through the Dangote Group, which operates in multiple sectors across Africa. His investments are mainly in manufacturing, infrastructure, and agriculture, with a focus on reducing Africa's dependence on imports.
Dangote Cement is Africa's largest cement producer, operating in over 10 countries, including Nigeria, Ethiopia, Tanzania, and South Africa. The company has a production capacity of over 51 million metric tons per year, helping to reduce Africa's reliance on imported cement, according to estimates.
There is also the Dangote Refinery, located in Lagos, Africa's largest oil refinery and one of the world's biggest single-train refineries. It has a 650,000 barrels per day refining capacity, aiming to make Nigeria self-sufficient in fuel production and reduce fuel imports.
One of Africa's largest sugar producers, Dangote Sugar, also supplies sugar for household use and major industries like beverages and food processing. He also produces flour, pasta, and other food products, playing a crucial role in Nigeria's food security.
