Nigeria’s Dangote Invests $400 Million for Expansion of Ethiopian Cement Plant
Dangote Group Chairman Aliko Dangote has announced a new $400 million investment to expand the Mugher cement plant in Ethiopia, increasing its capacity from 2.5 million tonnes to 5 million tonnes per year. Mugher Plant started operations in 2015 but faced many challenges, including damage to the equipment and the tragic killing of three employees. However, the Danget Group is committed to strengthening the Ethiopian footprint. Dr. Brook Taye, CEO of Ethiopian Investment Holdings (EIH), welcomed the move, a signal of confidence in the country’s business environment. In addition to cement, Dangote Group plans to invest in Omo Kuraz Sugar Company with EIH. In addition, it is considering urea production facilities, awaiting the development of the Ethiopian gas sector. Praises Ethiopia’s improved investment climate, Danget reiterates that African business leaders must supplement political efforts to drive economic progress on the mainland.
source: Business Internal Africa
