Dangote Begins Work on $400m Cement Plant in Zambia
- By Abimbola Tooki
- Published August 1st, 2011
- News
- Unrated
Dangote Industries Limited, pan African Conglomerate, has extended the frontier of its businesses in Africa with the launch, last weekend, of a new $400 million cement manufacturing plant in Zambia.
The ground breaking ceremony in Masaiti near Ndola, Zambia’s manufacturing hub, witnessed by top government officials, ministers and business leaders, was performed by Zambian President Rupiah Bwezani Banda, who called on other African entrepreneurs to direct their investment to African countries.
Basking in the euphoria of the citing of the company in his country, Banda disclosed that the new plant with an investment outlay of $400 million, is the largest in Zambia and would, to a great extent, help his government in the task of job creation and poverty alleviation.
The plant when completed, is expected to produce 1.5 tons of cement annually and will provide direct jobs for over 1000 unemployed Zambians, with addition 6,000 indirect jobs for the locals.
President Banda who led a delegation of Zambian top government officials, private sector operators as well as traditional rulers to the ceremony, lauded the doggedness of Dangote for believing in the economy of African countries with the establishment of his businesses across the African continent.
According to him, the Zambian government would do all to ensure safe and conducive operating environment for the plant, while assuring the people of Zambia that the high profile of the Dangote Group’s Corporate Social Responsibility would be made to bear on the host communities.
Already, President Banda said the Dangote Cement had earmarked significant amount of money for development activities such as pipe born water, schools, hospitals and other social amenities.
“Zambia, indeed welcomes your decision to invest here as one of the continent’s top global multi-national corporations,” he said. “This is the largest investment into Zambia by a Nigerian company and I am glad to also note that besides the employment opportunities being created, the project will greatly benefit the people of Masaiti and the surrounding districts through transfer of technology and skills.”
Aliko Dangote, president of Dangote Group, said the ground breaking ceremony was a follow up to the Investment Promotion and Protection Agreement (IPPA), signed last December, between the Dangote Industries Limited and the Government of Zambia and that the investment would further strengthen the bilateral relations between Nigeria and the Zambia.
The IPPA is a requirement for investors in Zambia which offers incentives and safeguards their investments against any future changes in legislation. Dangote assured the Zambian government of the timely completion of the plant which will make Zambia the 10th country where the company has invested in cement manufacturing in line with its pan African drive.
He explained that going by projections, the cement plant with an installed capacity of 1.5 million metric tons per annum, will be up and running within 27 months and will therefore, likely come on stream by mid-2013.
The ground breaking ceremony in Masaiti near Ndola, Zambia’s manufacturing hub, witnessed by top government officials, ministers and business leaders, was performed by Zambian President Rupiah Bwezani Banda, who called on other African entrepreneurs to direct their investment to African countries.
Basking in the euphoria of the citing of the company in his country, Banda disclosed that the new plant with an investment outlay of $400 million, is the largest in Zambia and would, to a great extent, help his government in the task of job creation and poverty alleviation.
The plant when completed, is expected to produce 1.5 tons of cement annually and will provide direct jobs for over 1000 unemployed Zambians, with addition 6,000 indirect jobs for the locals.
President Banda who led a delegation of Zambian top government officials, private sector operators as well as traditional rulers to the ceremony, lauded the doggedness of Dangote for believing in the economy of African countries with the establishment of his businesses across the African continent.
According to him, the Zambian government would do all to ensure safe and conducive operating environment for the plant, while assuring the people of Zambia that the high profile of the Dangote Group’s Corporate Social Responsibility would be made to bear on the host communities.
Already, President Banda said the Dangote Cement had earmarked significant amount of money for development activities such as pipe born water, schools, hospitals and other social amenities.
“Zambia, indeed welcomes your decision to invest here as one of the continent’s top global multi-national corporations,” he said. “This is the largest investment into Zambia by a Nigerian company and I am glad to also note that besides the employment opportunities being created, the project will greatly benefit the people of Masaiti and the surrounding districts through transfer of technology and skills.”
Aliko Dangote, president of Dangote Group, said the ground breaking ceremony was a follow up to the Investment Promotion and Protection Agreement (IPPA), signed last December, between the Dangote Industries Limited and the Government of Zambia and that the investment would further strengthen the bilateral relations between Nigeria and the Zambia.
The IPPA is a requirement for investors in Zambia which offers incentives and safeguards their investments against any future changes in legislation. Dangote assured the Zambian government of the timely completion of the plant which will make Zambia the 10th country where the company has invested in cement manufacturing in line with its pan African drive.
He explained that going by projections, the cement plant with an installed capacity of 1.5 million metric tons per annum, will be up and running within 27 months and will therefore, likely come on stream by mid-2013.
