Dangote Group plans $20bn expansion in 10 years
Dangote Group is billed to spend over $20 billion over the next decade to increase the volume of its local manufacturing and improve and grow the nation’s economy.
The Group’s Executive Director, Stakeholders’ Relations and Corporate Communications. Ahmed Mansur, made this known.
Mansur, who said this yesterday in Lokoja, Kogi State, at a media briefing, said the company’s volume of cement production has increased from the initial eight million tonnes per annum in 2010 to 40 million tonnes per. adding that the Group is targeting a new production level of between 75-80 million tonnes annually by 2020.
He plans are underway to build a new cement plant in Edo State aimed at increasing the volume of cement production.
Mansur said the company is making huge investments in the nation’s agricultural sector, so as to diversify the economy from its being dependent on oil revenues in view of the present realities in oil production and prices.
He said the company has already commenced rice production in Jigawa State through outgrowers and that efforts are ongoing to begin rice production in Kogi, Niger and Kebbi states.
He said these would enable the nation attain food sufficiency and stop the importation of foreign rice, presently costing the nation about $2 billion yearly.
Mansur said the company was also investing in the area of oil and gas, adding that a refinery that will refine 650,000 barrel of crude oil per day is being built in the country.
He said the company will be constructing gas pipelines from the south eastern part of the country to transport about three billion cubic metres of natural gas from the south to Lagos.
He said that the various investments being embarked upon will generate more jobs for the unemployed, adding that the company has so far engaged about 15,000 people into direct jobs.
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