Nigerian industrialist Aliko Dangote signed a Memorandum of understanding with one of the world’s leading engineering companies, China’s Sinoma International, to double the capacity of his company’s cement plant from six million to 12 million metric tonnes a year. Sinoma has already constructed several plants of Dangote’s cement company, which is the largest in Africa.
Signed on August 2 by Dangote, president of Dangote Group, and Sinoma chairman Lin Zhong, the agreement is worth 800 million dollars.
Speaking at the signing Dangote said “This $800m investment represents another bold step in our commitment to strengthening Nigeria’s industrial base and reinforcing our leadership in Africa’s cement industry,” while it reflected confidence in the Nigerian economy and would contribute to job creation and regional trade. He thanked President Bola Tinubu for what he described as an enabling environment for business. For his part, Lin said the partnership between the two companies had produced some of the most modern and efficient cement manufacturing facilities in Africa.
