EXPORT: Dangote Cement To Rake $700m from Lagos, Onne Terminals Annually
The Dangote Cement Plc on Monday , assured shareholders that its cement
terminals in Lagos and Rivers states , would rake in about 700 million dollars in foreign exchange annually through cement exportation to sub-Saharan African countries.
The two facilities currently under construction will be concluded before the end of this year.
Chairman of the company, Alhaji Aliko Dangote, disclosed this while addressing shareholders at the 10th Annual General Meeting (AGM) in Lagos.
Dangote said that the project would help to improve job creation and increase prosperity of the country.
The chairman said that the company would be opening export facilities within the terminals to export clinker and cement to its existing facilities both in Cameroun and other African countries.
He said that the company would be exporting cements through the terminals to Ghana, Cameroun, Sierra Leone and Congo, among others.
He promised that the terminals, which were delayed by equipment suppliers, countries,adding that the company’s capacity will increase on the completion of the terminals.
Dangote said that the terminals would make Nigeria the biggest exporter of cement in sub-Saharan Africa.
“ we will open export facilities in Lagos and Port Harcourt in 2019 and that will enable us export clinker initially to our grinding facility in Cameroun and then to new grinding plans we are building in West Africa.
“They will not only generate useful foreign currency for Dangote Cement to support other expansion projects outside of Nigeria, they will also help to increase the output of our Nigerian plants, ” he said.
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