Arvind Pathak, the Group Managing Director of Dangote Cement
said that the new plant upon completion, will strengthen local production of
Dangote Cement in Africa.
Pathak added that the company was nearing completion on its
plan to deploy grinding plants in Ghana and Cote d’Ivoire which will ensure
that cement becomes available in all African countries.
He made this disclosure at the closing gong ceremony on the
Trading Floor of the Nigerian Exchange Ltd (NGX), which also served to
introduce him as the new Group Managing Director of Dangote Cement to the
dealing members of the Exchange.
He said, “We have successfully completed our 0.4 million
tonnes grinding plant in Ghana and are on track to complete our 1.5 million
tonnes grinding plant in Cote d’Ivoire.
“In addition, we are strengthening our local production
capacity efforts to meet future demand with a 6Mt integrated cement plant in
Itori, Ogun state.
“The Itori cement plant will increase Nigeria’s capacity to
export cement, enabling more diversification and foreign exchange inflows for
the economy.”
He stated that Dangote Cement is proud of its strong ties
with the NGX and will always look forward to embracing new ways to engage and
foster this partnership.
The Exchange, he opined, “is very important to Dangote
Cement as it provides a platform for our stock to be traded, as well as the
means to raise funds through the capital market.
“The exchange is also one of the regulatory bodies which we
comply with. Dangote Cement has made great strides in our debt capital market
journey, from the issuance of our maiden ₦100 billion 5-year bond in 2020 to
another landmark bond issuance, where we raised ₦116 billion.”
He added that Dangote Cement has also received numerous
recognitions from capital market regulators and players which include the best
issuer in terms of the fixed income listings by the Nigerian Exchange Limited
(NGX) in 2022.
Earlier, Temi Popoola, Chief Executive Officer, Nigerian
Exchange Limited, welcoming the delegation from Dangote Cement lauded the
company on its 2022 full-year financial results.
He said that it is heart-warming to welcome the largest
listed company on the Exchange and called for more collaborations that will
help to deepen the NGX.
Popoola said the NGX through its activities and initiatives
has boosted investors’ confidence which can be seen in the appreciation of
listed equities adding that the goal of the Exchange is to innovate and help
more businesses to grow.
Part of the innovation he disclosed is the new USSD scheme
that makes it possible to access the NGX services on mobile phones.
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