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Fem Femi Asu
Joe Makoju, Group General Manager, Dangote Cement Plc, said the company had invested $ 3 billion to build manufacturing plants and import terminals / grinding in Africa
. operations are in Cameroon (1.5 metric tons per year clinker grinding), Congo (1.5Mta), Ghana (1.5Mta of import), Ethiopia (2.5Mta), Senegal (1.5Mta), Sierra Leone (0.7Mta) South Africa (2.8Mta), Tanzania (3.0Mta), Zambia (1.5Mta), according to him.
Makoju said, "Our performance in the first half was very strong and driven by a strong recovery in Nigeria, where our sales volumes increased nearly 14 percent and revenues grew by more than 18 percent. Pan-African operations saw a slight decline in volumes, but revenues and EBITDA increased due to better price and currency translation effects.
"In addition, we completed the largest commercial paper never made by a Nigerian company. Series 1 and 2 notes at the end of June, with a discount rate reflecting the strength of our company and its excellent credit ratings. "
He stated that the company's solid performance had been overshadowed by the tragic events adding," I would like to pay tribute to my colleagues, Deep Kamra, Beakal Alelign and Tsegaye Gidey, and offer our sincere condolences to their families.
On the company's future growth plans, Makoju said: "As it stands, I think we will focus on building new mills along the coast. West Africa, and we will ensure that we have clinker export facilities in Nigeria.We are considering the possibility of two new lines in Nigeria, maybe here the end of 2020, and it is likely that they will be in the state of Edo and Obajana, with a combined capacity of 6Mta. "
PUNCH
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