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Dangote says choice of Cameroon for N49.79b cement investment strategic

The President, Dangote Group, AlikoDangote, has revealed that the choice of Cameroon for the multi-billion Naira cement investment is quite strategic, ITRealms reports.

Cameroon is the largest economy in Central Africa and is well endowed with abundant natural resources. The country also enjoys political stability, adequate security and growing infrastructural development in addition to President Biya’s creation of an enabling environment that has continued to attract investors both from within and outside the African continent.

“For this reason, we feel particularly at home in Cameroon. And for this reason too, we are determined to explore other areas where we can contribute our own quota to the remarkable economic transformation, taking place under the government of President Biya”, he said.

He stated that due to the warm welcome given to Dangote Cement, the company has decided to begin work on the second phase of the plant, which will see the doubling of its capacity from the current 1.5mmetrictonnesperannum (mtpa) to 3.0mmtpa.

“Our desire to increase our investment with the Phase 2 project is based on not only the fast growth rate of the Cameroonian economy but also due to the warm welcome extended to us and the enabling environment created by the government of Cameroon,”he said.
 
As part of its effort to fast-track economic integration within Africa, Dangote Cement Plc,  commissioned its $250 million (about N49.79 billion)  1.5million metric tonnes per annum cement grinding plant in Douala, Camaroon,  barely three weeks after the cement plant in Zambia was commissioned.
 
The company, in addition laid foundation for a 200m Jetty in Base Elf area, of the Douala Port of Cameroon.

Dangote said he was delight at the commissioning of the project which commenced in 2011, adding that the plant is the company’s largest Greenfield project in a neighbouring country, which Nigeria has a long history of brotherly relationship that dates back to the colonial era.

CyriacusNnaji/GEE

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