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Wednesday, 30 January 2013

Investment Watch (Dangote)

Dangote Cement PLC is apparently looking to open another US400 million cement plant in Lusaka next year, bringing its total investment in Zambia to $800 million. 

Dangote is currently on track to complete the Ndola plant situated in Masaiti which is expected to produced 3,000 tonnes of cement per day. With the Ndola plant, the company expects to corner 40 to 45 per cent share of the local cement market – as construction and mining sector needs accelerates. The Ndola Plant is expected to create direct 1,000 jobs when it opens. Dangote Industries Zambia Limited is part of the Dongote Cement PLC, which is owned by Nigerian billionaire Aliko Dangote.

There are no details yet on precise location and the level of limestone deposits that would enable such an investment in Lusaka. So this may well be simply the case of talking up development. But if it does materialise it would be good development. And of course, the usual note of caution applies on “jobs created” pronouncements.

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