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   Market Date: 22-04-2014   
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Dangote Signs $95m Contract for Gas Turbines

Category: Investors NewsBeat


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Dangote Signs $95m Contract for Gas Turbines

 

Dangote Industries Cement division signed a $95 million contract in Lagos yesterday with Siemens International Turbomachinery for the production and supply of three gas turbines to power the Ibese Cement plant in Ogun state. 

 

 

The three gas turbines according to a statement made available to THISDAY, are expected to generate 102 mega watts of electricity for the cement plant. The company said in a statement that the construction of the plant, which began late 2009, is expected to be completed by the January 2011. The plant is estimated to produce 5 million metric tonnes of cement annually. The contract was signed by the President and Chief Executive of Dangote Group, Alhaji Aliko Dangote, representing Dangote Group and Managing Director/Chief Executive, Mr. Waclaw Lukowicz, representing Siemens Ltd.

 

 

Alhaji Dangote said: “We are pleased to partner with Siemens, a globally recognised company in power plant construction. This contract is a sign post to our desire and determination to meet our target of completing the Ibese plant in record time, and achieving the 20 million metric tonnes annual production target our cement division has set this year. “We have made a pledge to ensure that the price of cement in Nigeria comes down, but that can only be possible if the product is available in the market through increased supply. We intend to keep this pledge.

 

 

“Our cement division is expanding in various countries within Africa, and we hope that Siemens will cherish this relationship and meet our expectation, so that our partnership would be strengthened,” he added.  Lukowicz said: “This contract is a significant milestone for Siemens Limited as it is the first large private non oil and gas power plant project in the history of Siemens in Nigeria. We are proud to be associated with the Dangote Group and we hope this partnership will grow. Africa is the emerging market, Nigeria is the power house and Dangote is not only an African player, but potentially a global key player.

 

 

The Ibese plant is constructed by Sinoma a leading cement construction company from China. Some of the facilities to be provided at the plant include gas pipeline, housing estate and mining equipment.

 

 

When completed, the plant is billed to generate employment and be a major catalyst to the economic development of the state and the surrounding cities. Dangote Group’s foray into cement business began in 2005, and has since grown to become a market leader of cement manufacturing in Africa with plants either completed or being constructed in Zambia, Senegal  , Ibese, Obajana and Gboko

 

(Source:ThisDay)



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