Dangote Industries Limited has sealed an $800 million deal to expand its cement plant in Itori, Ogun State, in a major push to increase production and support industrial growth.
The agreement with Sinoma International Engineering Co. Ltd. will see the plant’s production capacity increase by two times which will see the annual production rise from six million to 12 million metric tonnes upon completion. The expansion will help satisfy the local market demand as well as open up room for more exports of cement to Africa.
The News Chronicle reports that the project fits into the company’s Vision 2030 which is aimed at making Dangote Cement achieve a production capacity of between 90 million and 100 million metric tonnes.
The company also stated that the project would create employment opportunities, add more value to the local manufacturing scene and also help generate foreign exchange from the export of the goods.
Dangote Group President, Aliko Dangote, said the project was a demonstration of the company’s confidence in the Nigerian economy and its potential.
The expansion of Itori will also help Dangote further strengthen its relationship with Sinoma which has aided it in executing major cement-related projects in Africa.
When completed, the upgraded facility is expected to become a major production and export hub, further strengthening Nigeria’s position in Africa’s cement industry.
