The cement producer is expanding in theEast African nation despite past security challenges.
Aliko Dangote, founder of Dangote Industries with the subsidiary Dangote Cement, recently announced a $400 million investment to revive a second production line at the Mugher cement plant in Ethiopia.
The expansion, projected to be completed within the next 30 months, is expected to double the nine-year-old plant’s capacity to 5 million metric tons annually.
The plant, which is one of the Dangote cement plants operational in 10 countries across the continent, was reportedly plagued by violence and political instability.
“Despite the ups and downs, we have successfully repaid all our loans and repatriated our profit,” Africa’s richest man reportedly confirmed.
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He also revealed plans for a new greenfield cement grinding unit with a capacity of 3 million tons per annum.
In partnership with state-owned Ethiopian Investment Holdings, Dangote’s company will invest in the Omo Kuraz sugar factory.
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