Nigeria's Dangote plans to build USD 400 million cement plant in Kenya- Kenyatta

September 7
7:02 AM 2013

The Office of the President of Kenya said Aliko Dangote would be investing USD 400 million to build a cement plant in Kenya. Nigerian Dangote is considered the wealthiest man in Africa. He owns Dangote Group which engages in several businesses. One of these businesses is Dangote Cement, which is the biggest in Africa. Earlier in May, Dangote's cement firm announced that it planned to invest USD 5 billion to construct a string of cement factories all over Africa.

Dangote joined Nigerian President Goodluck Jonathan and other business delegates to visit Kenya. In that visit, Nigeria and Kenya inked bilateral agreements in the agriculture, tourism and energy industries.

The Office of the President of Kenya said in a statement, "(President Uhuru Kenyatta) particularly cited the ... the decision by Nigerian tycoon Aliko Dangote to invest $400 million in a cement processing plant as an indicator that an "exciting journey has begun"." The Kenyan presidential office did not give more details on when the cement plant would be constructed or what the production capacity of the cement plant's going to be.

Dangote Cement did not yet give any statement about the reported investment.

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