Europe / Middle East / Africa
‘Dangote’s $400m Zambia Cement plant on course’
Mar, 21 2012
(Zambia) -- Construction of the US$400 million Dangote Cement plant in Masaiti District on Zambia’s Copper belt is on schedule and progressing well, with more equipment arriving in the country, Dangote logistics manager Kampewa Nundwe revealed, in an interview in Lusaka over the weekend.
The Chinese contractor moved on site shortly before the container carrying part of the equipment arrived in the country in January this year.
Nundwe said the contractor had since completed clearing the site and had started piling. He said more equipment from Germany was expected to arrive in the country soon.
Nundwe said the earth moving equipment and steel would also be arriving at Chirundu border in a few days time. Full construction was expected to commence as soon as the equipment arrives in the country.
“We are expecting more equipment which consists of steel for construction of the plant to arrive in the country in a few days time,” Nundwe said. The plant which would be the largest in Zambia is expected to be completed in 27 months.
The plant is expected to produce 1.5 million tonnes of cement per year upon reaching full capacity by 2013 and would create more than 1,000 jobs during construction and operational phases. Nundwe also disclosed that, Dangote had acquired land for its limestone mining in the same area and all that remained was for the company to be issued mining license.
“We are currently waiting to be issued with the mining license and then we can commence limestone mining,” he said.
Dangote cement, Nigeria’s biggest company by Market capitalization, with a market value of N1.73 trillion has embarked on the construction of cement plants all across Africa with the aim of producing 50 Million metric tonnes of the building material by 2015.
Dangote Cement shares has risen 3.3 percent this year, compared with a 0.45 percent rise in the Nigerian Stock Exchange All-Share Index over the same period.
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Nigeria’s Ashaka Cement, a unit of Lafarge, reported a 5% fall in half year pretax profit to $21m (4.17 billion naira) compared with the same period a year ago. More