Proshare Logo
   Market Date: 30-10-2014   
Agriculture ARTS FINANCE All One Min News Archives Bonds Cap Mkt Sentiments Capital Market CASHLESS NIGERIA Commodities Corporate Earnings Daily & Weekly Market Updates Enterpreneurship ETFs Forex Frauds & Scandals General Global Market Insurance Investors NewsBeat Islamic Finance Mergers & Aquisitions Money Market Mortgage Mutual Funds Nigeria Economy Oil Sector Opinions and Analysis Pensions People Personal Finance Politics Power Products & Services Professionals Property Public Offers Private Placements Regulators REITs Stock PICKS Taxation Telcos Travel & Tours Unlisted OTC MARKET World of Business

Jonathan Launches Dangote Ibese Cement Plant Thursday

Category: Nigeria Economy


  Read (3162)
Jonathan Launches Dangote Ibese Cement Plant Thursday

 

February 07, 2012
 
President Goodluck Jonathan will on Thursday February 9 commission the multi-billion dollar new Dangote Cement plant, situated in Ibese, Ogun State . The new plant has an installed capacity of six million metric tons of cement per annum.
 
With the commissioning, Dangote Cement’s total capacity will be 20.25m metric tons of cement per annum with Obajana Cement producing 10.25 million metric tons and Gboko Plant with four million metric tons.
 
The opening of the Ibese cement plant, reputed to be the largest in Africa, would not only satisfy domestic demand, but also put Nigeria as a net exporter of the commodity.
 
‘We are marking the end of cement import in Nigeria with the coming on stream of our Ibese cement plant, which will produce 6 million tons per annum from its initial two lines, to be increased with another two lines immediately, jerking its production to 12 million tons per annum,’ the management of Dangote Cement said at the weekend.
 
President of the Dangote Group, Alhaji Aliko Dangote, had said his organisation was taking up the challenge to lead the way in making the nation self-reliant in cement production and, consequently, reduce its huge foreign exchange on imports.
 
According to him, Dangote Cement intends to move away completely from import of certain commodities, of which cement is one, by strengthening the local production capacity.
 
‘Our long-term ambition is to develop 46 million metric tons of production and terminal capacity in Africa by 2015. We want to become a truly pan-African champion in the sector, capable of competing globally with the largest cement companies in the world,’ he said.
 
Group Head Corporate Communication of the Dangote Group, Anthony Chiejina, said ‘considering that Nigeria’s cement need is between17 to 19 million tons per year, by implication, with the coming on stream of Ibese, what Dangote Group alone will be producing will be far more than the country’s demand.
 


Tags: , 



Comment With Your Facebook or Yahoo! ID


Latest news


News on Nigeria Economy

About Us

Who We Are
Our Team & Partners
Corporate Governance
Advertise with Us
Subscribe / Unsubscribe
Site Map
News Feed - RSS
Newsletter
Contact Us
Volunteer Program
Message from CEO
Resources

News & Features
The Analyst / Market Data
Investor Relations Portal
The Regulator
Economy & Politics
WebTV
Training Portal
Events Calendar
NewsStands - Online Reputation

Products and Services

Research & Market Intelligence
Analyst Services
Offers & Rights Support Service
Investor Relations Services
Alert & Subscription Services
Share Support Services
Proshare Consult
Event & Seminar Coverage
Market Directory
File a Complaint
News & Analysis

#1minNews
News from TheANALYST
Video News from WebTV
Money Market Updates
Opinions & Analysis
Nigerian Economy
Market Data
The Regulator
Newsletters
Discussion Forum
Policy

Subscriber Agreement
Privacy Policy
Data Policy
Disclaimer
Copyright Policy
Trademarks
Comments in Site
Advertising Code
Conflict of Interest
Content Partnership
3rd Parties

Online Trading and Execution
Training
Legal Support Services
Web/Technology Services
File a Complaint