Dangote Cement may start building a $40 million, 1.5 million tonne-a-year cement plant by the first quarter of 2016, if all the necessary approvals are received.
Dangote Industries may invest in Zimbabwean power generation through Black Rhino Group, a $5 billion African infrastructure fund in which US private-equity group Blackstone Group is a co-investor.
A potential power investment in Zimbabwe could be “huge,” said Aliko Dangote.
Dangote Cement last week signed contracts with Chinese construction company Sinoma International Engineering to add 25 million tonnes in 11 countries.
Dangote said at the time he expects to reach more than 70 million tonnes of capacity once the projects are completed. A Zimbabwean plant would help reach the next milestone of 100 million tonnes of cement capacity by 2020, he said on Monday.