Aliko Dangote, the wealthiest individual in Africa, has unveiled a $400 million initiative to enhance a second production line at the Mugher cement facility in Ethiopia, with the goal of increasing the plant's annual output to 5 million tons.
Since its inception in 2015, the Ethiopian plant has encountered various difficulties, including ongoing violence in the area that has resulted in the destruction of vehicles and equipment by demonstrators. Tragically, in 2018, the country manager of Dangote Cement Plc and two other employees were killed.
“Despite the ups and downs, we have successfully repaid all our loans and repatriated our profit,” stated the chairman and CEO of Dangote Industries Ltd. during a press conference in Addis Ababa on Saturday. He indicated that the expansion project is anticipated to be operational within the next 30 months.
Additionally, Dangote revealed plans to create a new greenfield cement grinding facility with an annual capacity of 3 million tons. He also mentioned that Dangote Industries will collaborate with the state-owned Ethiopian Investment Holdings to invest in the Omo Kuraz sugar factory.